AMC Networks Inc. announced it has priced an offering of $400 million aggregate principal amount of 10.50% senior secured notes due 2032 in a private offering. These notes will be unconditionally guaranteed by the company's existing and future domestic subsidiaries on a senior secured basis.
The net proceeds from this offering, combined with cash on hand or other immediately available funds, are intended to fund the company's tender offer to purchase up to $450 million aggregate principal amount of its outstanding 4.25% Senior Notes due 2029.
This successful pricing is a key step in AMC Networks' strategy to refinance its debt, pay related premiums and expenses, and potentially repurchase or repay other corporate indebtedness. The move aims to strengthen the company's balance sheet and extend its debt maturity profile.
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