Friday, July 1

AMC will try to refinance its high-interest debt

Adam Aron, CEO of AMC EntertHldg Rg-A, noted that the intention of the firm to refinance its high interest debt is to reduce the exposure to interest and delay some debt maturities by several years according to Will Feuer en The Wall Street Journal.

“In 2020 and early 2021, AMC went into debt at high interest rates to survive,” Aron said on his Twitter account, which was revealed by the company in a document filed with the US Securities and Exchange Commission.

“There is no guarantee of success, but we will do everything possible to achieve it. We are always thinking of creative ways to make the future of AMC more secure, “added Aron.

AMC shares rose 1.2% in pre-market trading on Monday.

Even before the Covid-19 pandemic closed movie theaters around the world, AMC had a significant debt burden after a series of acquisitions.

At the beginning of last year, stocks were boosted by so-called meme stock investors which were piled high on GameStop Corp. shares and other popular targets.

Under Aron’s leadership, AMC has seized the opportunity to raise funds by selling more shares, drastically reducing your debt load.

AMC is trading at $ 27.80 and the Ei indicators are bearish.

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