AMC Networks Announces Early Results of Tender Offer for Any and All 4.75% Senior Notes due 2025

Core Viewpoint - AMC Networks Inc. has announced the early results of its cash tender offer to purchase its outstanding 4.75% Senior Notes due 2025, with a significant amount tendered by the early tender date [1][2]. Group 1: Tender Offer Details - The total principal amount of the 4.75% Senior Notes outstanding is $774.729 million, with $624.346 million tendered by the early tender date [1]. - The tender offer consideration is set at $970 per $1,000 principal amount of notes, with an early tender premium of $30, leading to a total consideration of $1,000 [1][2]. - The offer will expire on April 22, 2024, unless extended or terminated earlier by the company [3]. Group 2: Redemption and Settlement - A conditional notice of redemption has been issued for any notes remaining outstanding after the completion of the offer, at a price of 100% of their principal amount plus accrued interest [2]. - Payment for notes tendered by the early tender date is expected to occur on April 9, 2024, while payment for notes tendered after this date will occur on the business day following the expiration date [4][5]. - The offer is not conditioned on a minimum amount of notes being tendered but is subject to certain conditions, including the company raising sufficient net proceeds from a concurrent offering of senior secured notes due 2029 [5]. Group 3: Company Overview - AMC Networks Inc. operates various streaming services and cable networks, including AMC+, Acorn TV, and BBC AMERICA, and is known for its original franchises like The Walking Dead Universe [7].