AMC Shares Decline After Deal With Creditors, Debt Swap (1)

(Adds shares.)

AMC Entertainment drops 7.7% in premarket trading after signing a Transaction Support Agreement with key creditor groups to secure about $223 million of new money and the immediate equitization of at least $143 million of existing debt.

• Read More: AMC Reaches Deal With Creditors to End Litigation, Raise Money
• The agreement includes $223.3 million in new money financing, an immediate $143 million debt-for-equity swap and the potential for up to $337 million in total debt equitization
  • Financing will primarily be used to refinance debt maturing in 2026
• The deal also settles litigation with holders of AMC’s 7.5% Senior Secured Notes ...