AMC Networks Inc. Announces Pricing of $1 Billion of Senior Notes
January 25 2021 - 6:09PM
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 www.sec.gov. 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.
Contacts:Nicholas SeibertCorporate Development and Investor
Relations646-740-5749Nicholas.Seibert@amcnetworks.com
Georgia Juvelis Corporate
Communications917-542-6390georgia.juvelis@amcnetworks.com
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