02:48 PM EDT, 07/22/2024 (MT Newswires) -- AMC Entertainment Holdings ( AMC ) said Monday it agreed to a series of refinancing transactions that will extend the maturity of about $2.45 billion debt from 2026 to 2029 and beyond.

The company and its units issued $1.2 billion of new term loans for the purchase of $1.1 billion of existing term loans and about $100 million of its second lien subordinated secured notes due 2026, AMC said.

Additionally, the company and its units issued $414 million exchangeable notes for cash to repurchase second-lien notes and hold an option to issue up to $50 million in exchangeable notes to refinance outstanding debt in 2025, 2026 and 2027.

The company added that it is repurchasing up to $800 million of additional existing senior secured term loans due 2026 in exchange for new term loans due 2029.

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