“This increased liquidity should allow the company to make it through this dark coronavirus-impacted winter,” the company said, adding that its “financial runway has been extended deep into 2021.”
AMC has raised the finances from Dec. 14, 2020. Of the $917 million, AMC has raised $506 million of equity, from the issuance of 164.7 million new common shares, along with the previously announced securing of $100 million of additional first-lien debt and the concurrent issuance of 22 million new common shares to convert $100 million of second-lien debt into equity.
In addition, the company has executed commitment letters for $411 million of incremental debt capital in place through mid-2023, unless repaid before then, through the upsizing and refinancing of its European revolving credit facility.
The chain says that it presumes that it will continue to make progress in