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AMC Entertainment To Refinance Debt; Upgraded to B3 by Moody’s
September 22, 2026
AMC Entertainment Holdings is seeking to raise nearly $4bn in new debt to refinance and restructure a significant portion of its capital structure. The theater operator has launched a $2bn high-yield bond offering, an $850mn leveraged loan, and secured a commitment from Deutsche Bank for a $1.12bn second-lien loan. The bonds are initially marketed at yields in the low-9% range. The refinancing comes as the US and Canadian box office shows a strong recovery from the disruptions caused by the Covid-19 pandemic and 2023 Hollywood strikes. AMC reported a 42% YoY increase in consolidated revenue to $1.33bn in July and August, alongside a 36% rise in attendance. The company had $3.7bn of corporate borrowings outstanding as of June 30. Proceeds from the new financing will primarily repay term loans maturing in 2029 and 2031, as well as 2029 notes issued by AMC and its Muvico subsidiary. Following the announcement, Moody’s upgraded AMC to B3 from Caa2. Earlier, S&P had upgraded AMC to ‘B-’ in July, citing improving financial performance.
Its 7.5% 2029s traded stable at 100.7, yielding 7.2%
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