AMC Uses Theaters to Help Restructure Billions in Debt (1)

AMC Entertainment Holdings Inc. said it reached a sweeping restructuring deal with creditors that will let it delay repayment of more than $1.6 billion of debt for several years, buying it time to execute a turnaround.

The world’s largest movie theater chain reached an agreement that calls for swapping $1.2 billion of term loans due 2026 for new loans due three years later and undertaking a similar swap with $500 million of junior notes, according to a company statement. Exchangeable notes could also be swapped for stock, and some additional 2026 debt may be pushed out to 2029.

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