AMERICAS DISTRESS DAILY: AMC Strikes $1.6 Billion Debt Overhaul

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 will swap $1.2 billion of term loans due 2026 for new loans maturing three years later. It will execute a similar swap with $500 million of junior notes.
• AMC also moved 175 theaters and related intellectual property out of the reach of some creditors as part of the transaction. The company’s 7.5% first-lien notes due 2029 fell 2 ...