AMC seeking $500 million lifeline loan, could run out of cash by July - Business Insider

In early April, S&P Global downgraded its credit rating to CCC- from B-.

The company on Thursday evening announced it was pursuing a private debt offering. In a financial filing with the Securities and Exchange Commission, AMC said that it thinks the $500 million in additional liquidity will help them last until a partial reopening of business in November. "The closing of the Notes Offering will be conditioned on receiving these waivers. However, we can make no assurances in this regard and a failure to obtain these waivers could result in a default under these facilities," the company's SEC filing reads.

The company in late February announced a plan to reduce its debt burden and boost profitability — includingand its shareholder dividend, on top of previous announced reductions in capital expenditures. "We cannot assure you that our assumptions used to estimate our liquidity requirements will be correct because we have never previously experienced a complete cessation of our operations, and as a consequence, our ability to be predictive is uncertain," the company said in the filing.

China communist party owns AMC, any fundings would end up going to China, just let it bankrupt

😳 “Amid the unprecedented calamity, AMC's stock has plunged beneath $2 a share,...”.

Let Hollywood bail them out. $500 Million is the cost of one movie.

Not surprised. They won't survive this

Naw, bro! They charge $20 for popcorn! Pull yourself up from your bootstraps, AMC!

What did they do with all the money they charged 5000% markup on popcorn?

Let the dinosaurs die off.

I’m ok with this. I have a better theater experience at home.

But that pump overnight man!! Had 4/17 2.5 calls. In my wildest dreams, I never thought I would get THAT lucky.

The age of streaming has come

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fed's Bostic: Small business may need up to $500 bln monthly in support through crisisU.S. small businesses may need as much as $500 billion a month to fully ensure their survival through the widespread closures and disruptions slamming their revenue during the coronavirus crisis, Atlanta Federal Reserve bank President Raphael Bostic said Thursday. Small businesses just need something. Make it easy to get and get it to them quickly. Most small businesses have gotten nothing in the last 6 weeks. We have 600 euros
Source: Reuters - 🏆 2. / 97 Read more »