Entertainment company, AMC Networks Inc. (AMCX), Monday announced its intention to commence the private offering of $700 million of senior secured notes due 2029.
AMC plans to use the proceeds, along with the existing cash from business, to purchase its outstanding 4.75 percent senior notes due 2025 worth around $775 million.
The company further stated that the notes will be guaranteed, on a joint and several basis, by its existing and future domestic subsidiaries.
Currently, AMC's stock is climbing 0.73 percent, to $11.72 on the Nasdaq.
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