AMC Entertainment Restructures Debt, Easing Bankruptcy Worries
AMC Entertainment holdings (NYSE: AMC) has eased a burden that some investors feared could force it into bankruptcy.
On Monday, movie theater chain AMC announced a deal with most of its senior subordinated noteholders that will reduce its $5 billion debt load by $553 million. The same negotiations will also improve the company's cash and liquidity position between $355 million and $415 million within 18 months. AMC Entertainment has issued 5 million shares of stock to facilitate the deal.
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Source Fool.com