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Dec. 11, 2020, 8:46 a.m. EST

AMC Entertainment secures $100 million in debt financing from Mudrick Capital

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By Ciara Linnane

AMC Entertainment Holdings Inc. /zigman2/quotes/200235402/composite AMC +15.40% said Friday it has secured a commitment for $100 million of new first lien debt financing from Mudrick Capital Management LP, in its latest effort to bolster its liquidity. The world's biggest cinema chain operator has repeatedly tapped capital markets this year as cinemas were mostly closed or operating at limited capacity during the pandemic. Mudrick Capital, which owns second lien notes issued by AMC, has also agreed to convert $100 million of existing AMC debt into common shares. AMC will issue 21.9 million shares as part of the deal. Shares were down 0.7% premarket and have fallen 43% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.54% has gained 13%.

/zigman2/quotes/200235402/composite
US : U.S.: NYSE
$ 9.29
+1.24 +15.40%
Volume: 112.50M
March 8, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$3.04 billion
Rev. per Employee
$140,744
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/zigman2/quotes/210599714/realtime
US : S&P US
3,821.35
-20.59 -0.54%
Volume: 2.97B
March 8, 2021 4:20p
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