AMC Entertainment Holdings, parent of AMC Theatres, says it has reached agreement with some bondholders to allow another balance sheet refinancing to include new debt and guarantees by the mega cinema chain.
AMC Theatres said some lenders holding Muvico, LLC senior secured notes due 2029 have allowed the company flexibility to refinance its existing term loan credit agreement and the 12.75 percent Odeon senior secured notes due 2027. The agreement, following talks with some bondholders, will allow new debt to be secured and guarantees by AMC Theatres, and its Odeon and Muvico subsidiaries.
“Any such refinancing would be expected to extend the maturity of the refinanced debt and reduce the related interest expense,” the company said in a statement on Thursday.
The cinema chain has secured earlier agreements with creditor groups, debt holders and other lenders to give it more financial flexibility so it can focus on leveraging Hollywood box office at the local multiplex.
Debt refinancing deals for AMC Theatres aim to give the movie theater chain breathing room on its balance sheet to pay down long-term borrowings. To exchange new debt for existing borrowings, AMC typically has had to put up as collateral theaters and related intellectual property.
AMC Theatres indicated it had just under $4 billion in overall corporate borrowings for its third quarter ended Sept. 20, 2025.
As a preview of its upcoming financial results for the fourth quarter to the end of Dec. 2025, AMC Theatres forecast total revenues at around $1.28 billion, compared to $1.3 billion for year-ago period. The company also predicted a net loss of around $127.4 million, just down from a net loss of $135.6 million in the year-earlier period.
“Thanks to the ongoing support of our lenders, we have enhanced our flexibility to streamline and simplify our capital structure, reduce our cost of capital, improve our liquidity and efficiently address upcoming debt maturities,” AMC Theatres CEO Adam Aron stated. “We remain resolute in our ongoing pursuit of strengthening our balance sheet and this collaborative agreement with our supportive noteholders is yet another step to ensure that AMC is best positioned to capitalize on the industry’s anticipated recovery trajectory.”
AMC Theatres will report its fourth quarter and full year 2025 financial results on Feb. 24.
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