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AMC Networks Inc. Announces Proposed Private Offering of $700 Million of Senior Secured Notes due 2029
NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. (“AMC Networks” or the “Company”) (Nasdaq: AMCX) today announced that it intends to offer,
About this update from Amc Global Media Inc.
[{"type":"text","content":"NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. (“AMC Networks” or the “Company”) (Nasdaq: AMCX) today announced that it intends to offer, subject to market conditions and other factors, $700 million aggregate principal amount of senior secured notes due 2029 (the “Notes”) in a private offering. The Notes will be unconditionally guaranteed, on a joint and several basis, by each of AMC Networks’ existing and future domestic subsidiaries, subject to certain exceptions, on a senior secured basis. AMC Networks expects to use the net proceeds from the offering of the Notes, as well as cash on hand or other immediately available funds, to fund its tender offer (the “Tender Offer”) to purchase for cash any and all of its outstanding approximately $775 million of 4.75% Senior Notes due 2025 (the “2025 Notes”) and to redeem any 2025 Notes that remain outstanding after completion of the Tender Offer. AMC Networks is offering the Notes (and the related guarantees) pursuant to an exemption under the Securities Act of 1933, as amended (the “Securities Act”). The initial purchasers of the Notes will offer the Notes only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act or outside the United States to certain persons in reliance on Regulation S under the Securities Act. The Notes have not been and will not be registered under the Securities Act or under any state securities laws. Therefore, the Notes may not be offered or sold within the United States to, or for the account or benefit of, any United States person unless the offer or sale would qualify for a registration exemption from the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell, the solicitation of an offer to buy or a notice of redemption for any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. About AMC Networks AMC Networks (Nasdaq: AMCX) is home to many of the greatest stories and characters in TV and film and the premier destination for passionate and engaged fan communities around the world. The company creates and curates celebrat...