AMC Networks Inc. Files 8-K for Material Definitive Agreement

TL;DR

AMC Networks just filed an 8-K for a big new financial deal. Details TBD.

AI Summary

AMC Networks Inc. entered into a material definitive agreement on April 9, 2024, related to a direct financial obligation. The company filed an 8-K report on April 10, 2024, detailing this agreement. Specific details regarding the nature of the financial obligation and its terms are not fully disclosed in the provided text, but it constitutes a significant event for the company.

Why It Matters

This filing indicates a significant financial event for AMC Networks Inc., potentially impacting its debt structure or operational financing. Investors should monitor for further details on the agreement's terms and implications.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, which could carry significant financial implications for the company.

Key Players & Entities

• AMC Networks Inc. (company) — Registrant
• April 9, 2024 (date) — Earliest event reported
• April 10, 2024 (date) — Date of report
• 11 Penn Plaza, New York, NY 10001 (address) — Principal executive offices
• 212-324-8500 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.01 — stered Class A Common Stock, par value $0.01 per share AMCX The NASDAQ Stock Market
• $425 m — nding under the Term Loan A Facility to $425 million, and reduced the revolving credit
• $175 million — nt (the "Revolving Credit Facility") to $175 million. In addition, pursuant to Amendment No.
• $325 million — o Amendment No. 3, the maturity date of $325 million principal amount of loans under the Ter
• $875,000,000 — , AMC Networks completed an offering of $875,000,000 aggregate principal amount of its 10.25

Filing Documents

• amcx-20240409.htm (8-K) — 40KB
• amcx2024securednotes-inden.htm (EX-4.1) — 1081KB
• amc-thirdamendmenttosecond.htm (EX-10.1) — 1908KB
• 0001514991-24-000013.txt ( ) — 3632KB
• amcx-20240409.xsd (EX-101.SCH) — 2KB
• amcx-20240409_lab.xml (EX-101.LAB) — 21KB
• amcx-20240409_pre.xml (EX-101.PRE) — 12KB
• amcx-20240409_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amendment No. 3 to Credit Agreement On April 9, 2024, AMC Networks Inc. ("AMC Networks") entered into Amendment No. 3 ("Amendment No. 3") to the Second Amended and Restated Credit Agreement, dated as of July 28, 2017 (as amended to date and by Amendment No. 3, the "Credit Agreement"), among AMC Networks and its subsidiary, AMC Network Entertainment LLC ("AMC Network Entertainment"), as the initial borrowers, certain of AMC Networks' subsidiaries, as restricted subsidiaries, Bank of America, N.A., as an L/C Issuer, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent and an L/C Issuer. In connection with Amendment No. 3, AMC Networks made a partial prepayment of the Term Loan A facility under the Credit Agreement (the "Term Loan A Facility"), bringing the total principal amount outstanding under the Term Loan A Facility to $425 million, and reduced the revolving credit facility under the Credit Agreement (the "Revolving Credit Facility") to $175 million. In addition, pursuant to Amendment No. 3, the maturity date of $325 million principal amount of loans under the Term Loan A Facility as well as all of the commitments under the Revolving Credit Facility has been extended to April 9, 2028. Amendment No. 3 also includes certain other modifications to covenants and other provisions of the Credit Agreement. The foregoing summary is qualified in its entirety by reference to Amendment No. 3, which is attached as Exhibit 10.1 hereto and incorporated herein by reference. Senior Secured Notes Offering On April 9, 2024, AMC Networks completed an offering of $875,000,000 aggregate principal amount of its 10.25% Senior Secured Notes due 2029 (the "Notes") in a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to certain persons in reliance on Reg

01 Exhibits

Item 9.01 Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Indenture, dated as of April 9, 2024, among AMC Networks, as issuer, the Guarantors and U.S. Bank Trust Company, National Association, as Trustee. 10.1 Amendment No. 3, dated as of April 9, 2024, to Second Amended and Restated Credit Agreement, dated as of July 28, 2017, among AMC Networks and its subsidiary, AMC Network Entertainment LLC, as the initial borrowers, certain of AMC Networks' subsidiaries, as restricted subsidiaries, Bank of America, N.A., as an L/C Issuer, the lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent and an L/C Issuer. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. AMC Networks Inc. Date: April 10, 2024 By: /s/ Anne G. Kelly Anne G. Kelly Executive Vice President and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR