AMC Networks Nixes Tender Offer on Unmet Term Loan Condition

Entertainment content producer AMC Networkssaid in a Thursday statement that it’s terminated cash tender offers to purchase as much as $800 million of outstanding 5.00% senior notes due in 2024 and 4.75% senior notes due 2025.

• “The financing condition provides that the offers are conditioned upon the company having obtained a new senior secured term loan credit facility on terms and conditions satisfactory to the company, borrowings under which, together with cash on hand, would be sufficient to fund the purchase of the notes validly tendered and accepted for purchase. Market conditions were not suitable for the company to ...