top of page

AMC Networks Inc. - Tender Offer 2024 (US) - Launch

AMC Networks Commences Tender Offer for Any and All Senior Notes due 2025 - US00164VAE39

25 MARCH 2024


Full announcement available, including disclaimers and disclosures available via Globenewswire

Scroll below for information on previous AMC Network Offers


NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. (Nasdaq: AMCX) (the “Company”) announced today that it has commenced a cash tender offer (the “Offer”) to purchase any and all of its outstanding 4.75% Senior Notes due 2025 (the “Notes”).

The terms and conditions of the Offer are described in an Offer to Purchase, dated March 25, 2024 (the “Offer to Purchase”). The Company intends to fund the Offer, including accrued interest and fees and expenses payable in connection with the Offer, with the net proceeds from its concurrently launched offering of senior secured notes and cash on hand or other immediately available funds.


The following table sets forth certain terms of the Offer:



Substantially concurrently with commencement of the Offer, the Company is issuing a conditional notice of redemption to holders of the Notes to redeem any and all Notes that remain outstanding after completion of the Offer at a price of 100.000% of their principal amount, plus accrued and unpaid interest to, but not including, the redemption date."


...


 

 

AMC Networks Announces the Termination of its Cash Tender Offers for Senior Notes due 2024 and 2025


16 MARCH 2023


Full announcement available via Globenewswire


"NEW YORK, March 16, 2023 (GLOBE NEWSWIRE) -- AMC Networks Inc. (Nasdaq: AMCX) (the “Company”) announced today that it has terminated its previously announced cash tender offers (together, the “Offers” and each, individually, an “Offer”), the terms and conditions of which are described in an Offer to Purchase, dated February 17, 2023 (the “Offer to Purchase”), to purchase up to $800,000,000 aggregate principal amount of its outstanding 5.00% Senior Notes due 2024 (the “2024 Notes”) and 4.75% Senior Notes due 2025 (the “2025 Notes” and, together with the 2024 Notes, the “Notes”) as a result of the Financing Condition (as defined in the Offer to Purchase) not having been satisfied. As a result of the termination of the Offers, no Notes will be purchased in the Offers and all Notes validly tendered (and not validly withdrawn) will be promptly returned to tendering holders. No consideration will be paid in the Offers for any of the tendered Notes.


The Company's obligation to consummate the Offers by accepting for purchase, and paying for, any Notes validly tendered (and not validly withdrawn) was conditioned upon the satisfaction or waiver by the Company of the Financing Condition and the General Conditions (as defined in the Offer to Purchase). The Financing Condition provides that the Offers are conditioned upon the Company having obtained a new senior secured term loan credit facility on terms and conditions satisfactory to the Company, borrowings under which, together with cash on hand, would be sufficient to fund the purchase of the Notes validly tendered and accepted for purchase. Market conditions were not suitable for the Company to meet the Financing Condition. The Financing Condition has not been satisfied and has not been waived by the Company.

This press release constitutes a formal termination of the Offers, which was made pursuant to the terms and conditions set forth in the Offer to Purchase. This press release is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, any securities."

 

AMC Networks Announces Early Results of Cash Tender Offers for Senior Notes due 2024 and 2025


06 MARCH 2023


Full announcement available via Globenewswire


"The following table summarizes the material terms of the Offers and the aggregate principal amount of Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date. The Company reserves the right, but is under no obligation, to increase the Aggregate Maximum Tender Amount and/or the Tender Cap at any time, in each case without extending the Early Tender Date, the Withdrawal Date or the Expiration Date (as defined below) for the Offers or otherwise reinstating withdrawal or revocation rights of Holders (as defined below), subject to applicable law, which could result in the Company purchasing a greater aggregate principal amount of Notes in the Offers. There can be no assurance that the Company will exercise its right to increase the Aggregate Maximum Tender Amount or the Tender Cap. If the Company does increase the Aggregate Maximum Tender Amount and/or the Tender Cap, it does not expect to extend the Withdrawal Date, subject to applicable law."


...



 

AMC Networks Commences Tender Offers for Senior Notes due 2024 and 2025


17 FEBRUARY 2023


Full announcement available via AMC Networks


February 17, 2023 NEW YORK, Feb. 17, 2023 (GLOBE NEWSWIRE) -- AMC Networks Inc. (Nasdaq: AMCX) (the “Company”) announced today that it has commenced cash tender offers (together, the “Offers” and each, individually, an “Offer”) to purchase up to $800,000,000 aggregate principal amount (as such amount may be increased by the Company, the “Aggregate Maximum Tender Amount”) of its outstanding 5.00% Senior Notes due 2024 and 4.75% Senior Notes due 2025 (collectively, the “Notes”). The terms and conditions of the Offers are described in an Offer to Purchase, dated February 17, 2023 (the “Offer to Purchase”). The Company intends to fund the Offers, including accrued interest and fees and expenses payable in connection with the Offers, with borrowings under a new senior secured term loan credit facility and/or cash on hand.


The following table sets forth certain terms of the Offers:



Tags:

26 views0 comments

Comments


bottom of page