Odeon Finco, a wholly-owned subsidiary of Odeon Cinemas Group and AMC Entertainment, entered into a credit agreement with Deutsche Bank AG (New York branch) and borrowed $425 million of new first lien 10.50% term loan due 2031.
The proceeds from the Odeon Term Loan were used to fund the previously announced full redemption of Odeon’s outstanding 12.750% Senior Secured Notes due 2027 and to pay related fees, costs, premiums and expenses.
“With this transaction, AMC has once again taken decisive action to strengthen our financial position by extending our debt maturities by four full years, while simultaneously reducing our annual cash interest expense,” Adam Aron, chairman and CEO of AMC, said. “I would like to thank all of our lenders who continue their staunch support of AMC, and, in this case particularly, the professional team at Deutsche Bank who were central to the refinancing of our Odeon debt. This transaction is yet another meaningful, tangible step that enhances our liquidity, improves our flexibility and better positions AMC for the future.”
Aron concluded, “In addition to the actions we have taken, and will continue to take, to strengthen AMC’s balance sheet, we note with optimism that calendar year 2026 began with the highest Q1 box office since the pandemic closed theatres back in 2020. We fervently believe that AMC is increasingly well-positioned to capitalize on the robust box office growth that we anticipate will materialize during the remainder of 2026 and beyond.”
The collateral and guarantors of the Odeon term loan are substantially the same as those of the Odeon notes. AMC has not pledged any of its assets to secure the Odeon term loan or the related guarantees, and AMC’s guaranty does not benefit from any security interest over the collateral or any other asset.
In connection with the redemption of the Odeon notes, the Odeon notes will be delisted from the Official List of The International Stock Exchange.
