AMC Networks Inc. Announces Pricing of $1 Billion of Senior Notes
March 23 2016 - 5:21PM
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 5.00% Senior Notes due 2024 (the
“Senior Notes”). The offering is expected to close on March 30,
2016, subject to customary closing conditions.
AMC Networks intends to use a portion of the proceeds of the
offering to fund a tender offer for AMC Networks’ outstanding 7.75%
senior notes due 2021 (the “7.75% Notes”) and to pay fees and
expenses related to the offering, with the remaining proceeds to be
used for general corporate purposes, which may include the
redemption of any of the Company’s 7.75% Notes not tendered.
AMC Networks has filed an automatic shelf registration statement
on Form S-3 (including a prospectus) with the United States
Securities and Exchange Commission, 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.
BofA Merrill Lynch and Morgan Stanley & Co. LLC 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 Web site
at www.sec.gov. Alternatively, copies of the preliminary prospectus
supplement and accompanying prospectus for the offering may be
obtained from: BofA Merrill Lynch, Attn: Prospectus Department, 222
Broadway, 11th Floor, New York, NY 10038, or by emailing
dg.prospectus_request@baml.com or Morgan Stanley & Co. LLC,
Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, or by calling toll free (888) 718-1649 or by
emailing prospectus@morganstanley.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction. The offering of these securities will
be made only by means of the prospectus supplement and the
accompanying prospectus.
Dedicated to producing quality programming and content for more
than 30 years, AMC Networks Inc. owns and operates several of the
most popular and award-winning brands in cable television. AMC,
IFC, SundanceTV, WE tv, and IFC Films produce and deliver
distinctive, compelling and culturally relevant content that
engages audiences across multiple platforms. The company also
operates BBC America through a joint venture with BBC Worldwide. In
addition, the company operates AMC Networks International, its
global division.
This press release may contain statements that constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned
that any such forward-looking statements are not guarantees of
future performance or results and involve risks and uncertainties,
and that actual results or developments may differ materially from
those in the forward-looking statements as a result of various
factors, including financial community and rating agency
perceptions of the company and its business, operations, financial
condition and the industries in which it operates and the factors
described in the company’s filings with the Securities and Exchange
Commission, including the sections entitled “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” contained therein. The company disclaims any
obligation to update any forward-looking statements contained
herein.
Contacts:
Seth Zaslow
Investor Relations
646-273-3766
seth.zaslow@amcnetworks.com
Georgia Juvelis
Corporate Communications
917-542-6390
georgia.juvelis@amcnetworks.com
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