BUZZ-AMC shares rise after completing $3.97 billion debt refinancing

October 6 - ** Cinema chain company AMC Entertainment (AMC.N) shares rose 3.5% to $2.89

** AMC completed a $3.97 billion refinancing, covering around 97% of its debt

** The transaction extended the maturity of almost all its debt to October 2031 and October 2033, and lowered its cost of capital

** The company repaid its existing term loan and refinanced debt due in 2029, streamlining its capital structure

** AMC’s new loan structure includes $2 billion of first-lien notes due 2031, an $850 million first-lien term loan, and a $1.12 billion second-lien loan provided by Deutsche Bank's Special Situations Group

** The proceeds will be used to repay multiple debts due in 2029 and 2027, as well as loans provided to subsidiary Odeon Finco

** AMC has reported annual net losses since 2018, which has increased its heavy debt burden and financing costs

** As of last session’s close, AMC had risen 83.65% so far this year

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