UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.02. | Termination of a Material Definitive Agreement. |
To the extent applicable, the information set forth in Item 8.01 below is incorporated herein by reference. |
Item 8.01 Other Events.
As previously disclosed, AMC Entertainment Holdings, Inc.’s (the “Company”) $225.0 million senior secured revolving credit facility (the “Senior Secured Revolving Credit Facility” or the “Facility”) matures by its terms on April 22, 2024, and the Company does not intend to renew the Facility. The Company has entered into a new letter of credit facility in order to continue to provide letters of credit in the ordinary course of business.
The Senior Secured Revolving Credit Facility included a financial covenant that required, in certain circumstances, compliance with a certain secured leverage ratio (the “Revolver Financial Covenant”); however, the requisite revolving lenders previously agreed to suspend testing of the Revolver Financial Covenant through the testing period ending March 31, 2024 subject to certain conditions, including a minimum liquidity requirement of $100 million.
As of April 19, 2024, and in anticipation of the maturity of the Facility, the Company has voluntarily terminated the commitments under the Senior Secured Revolving Credit Facility in full and paid off any remaining obligations with respect to the Senior Secured Revolving Credit Facility (the “Revolver Payoff”). Immediately from and after the Revolver Payoff, the Revolver Financial Covenant and the related covenant suspension conditions are no longer in effect pursuant to the terms of the Credit Agreement, dated as of April 30, 2013 (as amended from time to time) (the “Credit Agreement”). The termination of the Senior Secured Revolving Credit Facility does not otherwise affect the senior secured term loan facility under the Credit Agreement.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit |
Description of Exhibit | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AMC ENTERTAINMENT HOLDINGS, INC. | ||
Date: April 19, 2024 | By: | /s/ Kevin M. Connor |
Name: Kevin M. Connor | ||
Title: Senior Vice President, General Counsel and Secretary |