Benzinga | Jan 25, 2021 06:14PM EST

AMC Networks Prices $1B In 4.25% Senior Notes Due 2029

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.