AMC Inks Deal With Creditors to End Litigation, Raise Money

AMC Entertainment Holdings Inc. said it reached an agreement with a majority of bondholders to end litigation that resulted from the movie theater chain’s debt restructuring last year, according to a statement on Tuesday.

The settlement includes the injection of $223.3 million of new money that will be used mostly to refinance debt due next year, and the immediate equitization of $143 million of a convertible note due 2030. A larger amount of those notes may be swapped into equity at a later stage, according to the statement.