AMC Networks prices $400 million in senior secured notes at 10.50%

NEW YORK - AMC Networks Inc. (NASDAQ:AMCX) has priced an offering of $400 million in 10.50% senior secured notes due 2032, the company announced Wednesday. The debt offering comes as the company maintains a solid liquidity position, with InvestingPro data showing current assets more than double its short-term obligations.

The notes will be guaranteed by AMC Networks’ existing and future domestic subsidiaries on a senior secured basis, with certain exceptions.

The company plans to use the proceeds, along with available cash, to fund a tender offer for up to $450 million of its outstanding 4.25% Senior Notes due 2029, pay related fees and expenses, and repurchase or repay other corporate debt.

The notes are being offered under Securities Act exemptions and will only be available to qualified institutional buyers under Rule 144A or to certain persons outside the United States under Regulation S. The securities have not been registered under the Securities Act or state securities laws.

AMC Networks operates several streaming services including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK and HIDIVE, as well as cable networks AMC, BBC AMERICA, IFC, SundanceTV and We TV. The company also runs AMC Studios, which produces original content including "The Walking Dead Universe" and the "Anne Rice Immortal Universe."

This information is based on a press release statement from the company.

In other recent news, AMC Networks Inc. reported financial results for the first quarter of 2025, revealing a notable miss on both earnings and revenue forecasts. The company reported revenue of $555 million, down 7% year-over-year, and earnings per share of $0.52, which fell short of the forecasted $0.79. Moody’s Ratings has downgraded AMC Networks’ corporate family rating to B3 from B2, citing ongoing operational challenges and declining linear subscriber trends affecting revenue and profitability. The company plans to offer $400 million in senior secured notes due 2032, using the proceeds to refinance existing debt and repurchase or repay other corporate obligations. AMC Networks has also moved its corporate domicile from Delaware to Nevada, a decision approved by stockholders during an annual meeting. Despite these challenges, AMC Networks maintains a revenue outlook of approximately $2.3 billion for 2025, with expectations for streaming revenue growth as the company expands its digital advertising capabilities. The firm continues to invest in content creation, spending around $1 billion annually, although declining viewership impacts distribution fees and advertising sales.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.