AMC Entertainment Holdings, Inc. filed a Form 8-K with the SEC on September 21, 2026, disclosing the commencement of a private offering of first lien notes, two new term loan facilities totaling $1.97 billion, a cash tender offer for existing secured notes, and a conditional redemption of Muvico senior secured notes.

Key Highlights

  • First Lien Notes Offering: AMC commenced a private offering of $2,000 million aggregate principal amount of first lien notes due 2031.
  • New First Lien Term Loan: The company launched syndication of a new $850 million first lien term loan facility, expected to mature five years from the closing date of the offering.
  • Second Lien Term Loan Commitment: AMC entered a commitment letter with Deutsche Bank AG New York Branch for a new $1,120 million second lien term loan facility at a fixed interest rate of 11.25% per annum, with a seven-year expected maturity.
  • Tender Offer Commenced: The company launched a cash tender offer to purchase any and all outstanding AMC 7.500% Senior Secured Notes due 2029, as of September 21, 2026.
  • Muvico Note Redemption: AMC expects to deliver a conditional full redemption notice for Muvico's Senior Secured Notes due 2029 at 100.000% of principal plus a make-whole premium and accrued interest.
  • Aggregate Proceeds Threshold: The Muvico redemption is conditioned on aggregate gross proceeds to the company, its affiliates, and subsidiaries of at least $3,970 million.
  • Preliminary Financial Results Furnished: Select preliminary estimated financial results for the two months ended August 31, 2026, were furnished as Exhibit 99.1.

AMC Entertainment's Multi-Tranche Refinancing and Debt Retirement Plan

According to the filing, AMC Entertainment Holdings, Inc. (NYSE:AMC), a Delaware-incorporated movie theater operator headquartered in Leawood, Kansas, disclosed a coordinated set of debt transactions on September 21, 2026. The company commenced a private offering of $2,000 million in first lien notes due 2031, alongside the syndication of a new $850 million first lien term loan facility. Both components together form what the filing refers to as the "1L Financing," each described as subject to market and other conditions.

The filing also disclosed AMC's entry into a commitment letter with Deutsche Bank AG New York Branch covering a new second lien term loan facility of $1,120 million. That facility carries a fixed interest rate of 11.25% per annum and is expected to mature seven years from the closing date of the offering. The company reported that the final terms of the second lien facility remain subject to definitive credit documentation and customary closing conditions, including the consummation of the 1L Financing. The notes and both new term loan facilities, according to the filing, will be guaranteed jointly and severally by certain wholly-owned subsidiaries, including Muvico, LLC, Odeon Cinemas Group Limited, and certain subsidiaries of Odeon Cinemas Group Limited.

The company stated its intent to apply the net proceeds from the offering, combined with proceeds from the new term loan facilities and cash on hand, to retire several existing debt obligations. These include funding the tender offer for AMC's 7.500% Senior Secured Notes due 2029, redeeming any such notes not tendered on or about February 15, 2027, redeeming in full Muvico's Senior Secured Notes due 2029, and repaying in full outstanding amounts under two existing credit agreements: one dated July 22, 2024, and one dated April 17, 2026, involving Odeon Finco PLC as borrower. Remaining proceeds would cover related fees, costs, premiums, and expenses. The filing notes that forward-looking statements regarding anticipated terms, timing, and completion of these transactions are the company's own and subject to its cautionary language under the Private Securities Litigation Reform Act of 1995.

What Was Disclosed

AMC Entertainment's Form 8-K reported the launch of a $2,000 million first lien notes offering, a new $850 million first lien term loan, a $1,120 million second lien term loan commitment, a tender offer for existing secured notes, a conditional Muvico note redemption, and preliminary financial results for the two months ended August 31, 2026.