AMC Networks Inc. Announces Full Redemption of 4.75% Senior Notes due 2022 and $600 Million Partial Redemption of 5.00% Senior Notes due 2024
AMC Networks has announced its intent to redeem $400 million of its 4.75% Senior Notes due 2022 and $600 million of its 5.00% Senior Notes due 2024. The redemption will take place on February 26, 2021, at prices of 100% and 102.5% of the principal amounts, respectively, plus accrued interest. U.S. Bank National Association will distribute the notice of redemption to all registered holders. AMC Networks is known for its popular content and operates various brands, including AMC and BBC America. Forward-looking statements regarding future performance are included, highlighting inherent risks.
- Redemption of $400 million in 4.75% Senior Notes and $600 million in 5.00% Senior Notes indicates a strategic financial management approach.
- The specified redemption prices (100% and 102.5%) suggest the company is taking proactive steps to manage debt.
- None.
NEW YORK, Jan. 26, 2021 (GLOBE NEWSWIRE) -- AMC Networks Inc. (“AMC Networks” or the “Company”) (Nasdaq:AMCX) today announced that it has given notice of its intention to redeem the remaining
AMC Networks has instructed U.S. Bank National Association, as the trustee for the Notes (the “Trustee”), to distribute a notice of redemption to all registered holders of the Notes on January 26, 2021. Copies of the applicable notice of redemption and additional information relating to the procedure for the redemption of the Notes may be obtained from U.S. Bank National Association by calling 1(800)-934-6802.
AMC Networks is a global entertainment company known for its popular and critically-acclaimed content. Its portfolio of brands includes AMC, BBC AMERICA (operated through a joint venture with BBC Studios), IFC, SundanceTV, WE tv, IFC Films, and a number of fast-growing streaming services, including the AMC+ premium streaming bundle, Acorn TV, Shudder, Sundance Now and ALLBLK (formerly branded “UMC”). AMC Studios, the Company’s in-house studio, production and distribution operation, is behind award-winning owned series and franchises, including The Walking Dead, the highest-rated series in cable history. The Company also operates AMC Networks International, its international programming business, and Levity Entertainment Group, its production services and comedy venues business.
This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the Company and its business, operations, financial condition and the industries in which it operates and the factors described in the Company’s filings with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein.
Contacts:
Nicholas Seibert
Corporate Development and Investor Relations
646-740-5749
Nicholas.Seibert@amcnetworks.com
Georgia Juvelis
Corporate Communications
917-542-6390
georgia.juvelis@amcnetworks.com
FAQ
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