NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. (Nasdaq: AMCX) (the “Company”) announced today that it has given notice of its intention to redeem all of its outstanding 4.75% Senior Notes due 2025 (CUSIP Number 00164V AE3) (the “Notes”) on April 24, 2024 (the “Redemption Date”). If the condition to the redemption of the Notes described below is satisfied, the Notes will be redeemed at a redemption price of 100.000% of the principal amount of the Notes plus accrued and unpaid interest to, but excluding, the Redemption Date (the “Redemption Price”).
The redemption is subject to and conditioned upon the completion by the Company of an issuance of at least $700 million aggregate principal amount of senior secured notes no later than the Redemption Date on terms and conditions satisfactory in all respects to the Company in its sole and absolute discretion.
AMC Networks has instructed U.S. Bank Trust Company, National Association, as the trustee for the Notes (the “Trustee”), to distribute a notice of redemption to all registered holders of the Notes on March 25, 2024. Copies of the notice of redemption and additional information relating to the procedure for the redemption of the Notes may be obtained from U.S. Bank Trust Company, National Association by calling 1-(800)-934-6802.
About AMC Networks Inc.
AMC Networks (Nasdaq: AMCX) is home to many of the greatest stories and characters in TV and film and the premier destination for passionate and engaged fan communities around the world. The company creates and curates celebrated series and films across distinct brands and makes them available to audiences everywhere. Its portfolio includes targeted streaming services AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK and HIDIVE; cable networks AMC, BBC AMERICA (operated through a joint venture with BBC Studios, which includes U.S. distribution and sales responsibilities for BBC News), IFC, SundanceTV and WE tv; and film distribution labels IFC Films and RLJE Films. The company also operates AMC Studios, its in-house studio, production and distribution operation behind acclaimed and fan-favorite original franchises including The Walking Dead Universe and the Anne Rice Immortal Universe; and AMC Networks International, its international programming business.
This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning the terms and timing of the redemption of the Notes and the Company’s concurrent offering of senior secured notes. 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 ad Exchange Commission, including the sections titled “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:
| Investor Relations Nicholas Seibert nicholas.seibert@amcnetworks.com | Corporate Communications Georgia Juvelis georgia.juvelis@amcnetworks.com | |
