AMC Networks Yanks Tender Offer After Failing to Secure Loan (1)

AMC Networks Inc. terminated a tender offer because it couldn’t obtain a new term loan to fund the purchase.

The entertainment company said in a Thursday press release that it wouldn’t purchase any notes from the offer and would return any that were already tendered. It originally launched the tender to purchase as much as $800 million of its outstanding 5% senior notes due 2024 and 4.75% senior notes due 2025 in February, led by Bank of America Corp.

New York-based AMC Networks tendered the notes on the condition that it would fund the purchase, along with cash, using a ...