Facing the prospect of staying shut for several more months due to the coronavirus pandemic, embattled exhibitor AMC Entertainment has unveiled plans to raise $500 million in new debt to improve it…
pandemic, embattled exhibitor AMC Entertainment has unveiled plans to raise $500 million in new debt to improve its balance sheet.
“Due to significant actions taken by the company, we believe our current cash balance is sufficient to withstand a global suspension of operations until a partial reopening in July,” AMC said. “After giving effect to the proposed notes offering, we believe the company will have sufficient liquidity to withstand a global suspension of operations until a partial reopening ahead of Thanksgiving.”
AMC said the pandemic has had, and is likely to continue to have, a “severe and unprecedented” impact on the world and warned that the closures may extend past June.
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