AMC Networks Announces Early Results and Upsizing of Tender Offer for its 4.25% Senior Notes due 2029

Core Viewpoint - AMC Networks Inc. has announced the early results of its cash tender offer to purchase outstanding 4.25% Senior Notes due 2029, increasing the maximum aggregate principal amount from $450 million to $600 million [1][5][10] Group 1: Offer Details - The Offer to Purchase was dated June 17, 2025, and the Company reserves the right to amend, extend, or terminate the Offer [2] - As of the Early Tender Date, the aggregate principal amount of Notes validly tendered was $614,437,000, with a proration factor of 97.7% [3][5] - The Total Consideration for the Notes is $815 per $1,000 principal amount, which includes an Early Tender Premium of $50 [6] Group 2: Tender Process - The Withdrawal Deadline for the tendered Notes expired on July 1, 2025, at 5:00 p.m. New York City time, meaning tendered Notes cannot be withdrawn [7] - The Offer is scheduled to expire on July 17, 2025, but the Company does not expect to accept any Notes tendered after the Early Tender Date due to the exceeded Maximum Tender Amount [8] Group 3: Financial Context - The Offer is conditioned upon the Company raising net proceeds of $400 million from a concurrent offering of senior secured notes due 2032 [10] - AMC Networks operates various streaming services and cable networks, indicating a diversified portfolio that supports its financial activities [13]