AMC Networks Inc. Announces Full Redemption of 4.75% Senior Notes due 2022 and $600 Million Partial Redemption of 5.00% Senio...
January 26 2021 - 5:36PM
AMC Networks Inc. (“AMC Networks” or the “Company”) (Nasdaq:AMCX)
today announced that it has given notice of its intention to redeem
the remaining $400 million outstanding principal amount of its
4.75% Senior Notes due 2022 (CUSIP Number 00164V AC7) (the “2022
Notes”) and $600 million of the outstanding $1 billion principal
amount of its 5.00% Senior Notes due 2024 (CUSIP Number 00164V AD5)
(the “2024 Notes” and, together with the 2022 Notes, the “Notes”)
on February 26, 2021 (the “Redemption Date”). The 2022 Notes will
be redeemed at a redemption price of 100.000% of the principal
amount of the 2022 Notes and the 2024 Notes will be redeemed at a
redemption price of 102.500% of the principal amount of the 2024
Notes to be redeemed, in each case, plus accrued and unpaid
interest to, but excluding, the Redemption Date.
AMC Networks has instructed U.S. Bank National
Association, as the trustee for the Notes (the “Trustee”), to
distribute a notice of redemption to all registered holders of the
Notes on January 26, 2021. Copies of the applicable notice of
redemption and additional information relating to the procedure for
the redemption of the Notes may be obtained from U.S. Bank National
Association by calling 1(800)-934-6802.
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 Securities and Exchange
Commission, 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 JuvelisCorporate
Communications917-542-6390georgia.juvelis@amcnetworks.com
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