AMC Networks Inc. Announces Pricing of $1 Billion of Senior Notes

NEW YORK, Jan. 25, 2021 (GLOBE NEWSWIRE) -- AMC Networks Inc. (“AMC Networks” or the “Company”) (Nasdaq:AMCX) today announced that it has priced a public offering of $1 billion in aggregate principal amount of 4.25% Senior Notes due 2029 (the “Senior Notes”). The offering is expected to close on February 8, 2021, subject to the satisfaction of customary closing conditions.

AMC Networks intends to use the proceeds of the offering to redeem (i) the remaining $400 million principal amount of the Company’s 4.75% Senior Notes due December 2022 (the “2022 Notes”) at a redemption price of 100.000% and (ii) $600 million principal amount of the Company’s 5.00% Senior Notes due April 2024 (the “2024 Notes”) at a redemption price of 102.500%. This press release shall not constitute a notice of redemption with respect to the 2022 Notes or the 2024 Notes.

AMC Networks has filed an automatic shelf registration statement on Form S-3 and a post-effective amendment thereto with the United States Securities and Exchange Commission (the “SEC”), which became effective immediately, and a preliminary prospectus supplement under the registration statement, pursuant to which AMC Networks is offering and selling the Senior Notes. The preliminary prospectus supplement and accompanying prospectus describe the terms of the offering. J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, Truist Securities, Inc., Wells Fargo Securities, LLC, BNP Paribas Securities Corp., Fifth Third Securities, Inc., Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc. and Barclays Capital Inc. will act as joint book-running managers for the offering.

Before you invest, you should read the registration statement, the prospectus, the prospectus supplement and other documents filed with the SEC and incorporated by reference therein for more complete information about AMC Networks and the offering. You may get these documents for free by visiting EDGAR on the SEC’s website at Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling +1 (866) 803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offering of these securities will be made only by means of the prospectus supplement and the accompanying prospectus.

AMC Networks is a global entertainment company known for its popular and critically-acclaimed content. Its portfolio of brands includes AMC, BBC AMERICA (operated through a joint venture with BBC Studios), IFC, SundanceTV, WE tv, IFC Films, and a number of fast-growing streaming services, including the AMC+ premium streaming bundle, Acorn TV, Shudder, Sundance Now and ALLBLK (formerly branded “UMC”). AMC Studios, the Company’s in-house studio, production and distribution operation, is behind award-winning owned series and franchises, including The Walking Dead, the highest-rated series in cable history. The Company also operates AMC Networks International, its international programming business, and Levity Entertainment Group, its production services and comedy venues business.  

This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 SEC, including the sections entitled “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.

Nicholas Seibert
Corporate Development and Investor Relations

Georgia Juvelis
Corporate Communications

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