AMC Noteholders Finalize New Debt Package, Settle Lawsuit Over 2024 Refinancing

Paul, Weiss advised an ad hoc group of first lien noteholders of AMC Entertainment Holdings, Inc., the world’s largest movie theater chain, in a transaction support agreement with the company that settled the group’s New York state court lawsuit regarding a 2024 AMC refinancing transaction. The agreement, announced on July 1, facilitated a series of debt refinancing transactions with several key creditor groups that were all completed.

Under the agreement, AMC will issue Paul, Weiss’s clients $857 million of new senior secured notes due 2029 in exchange for $590 million of existing first lien notes, and the ad hoc group of noteholders will provide AMC with about $244 million in new financing. AMC intends to use this new capital primarily to refinance debt maturing in 2026.

The Paul, Weiss team included restructuring partners Brian Hermann and Lauren Bilzin; litigation partners Andrew Ehrlich and William Clareman; and corporate partner Timothy Cruickshank and counsel Lyudmila Bondarenko.