AMC Entertainment Holdings (NYSE:AMC) is looking to fast track the refinancing of its debt, according to reports in CNBC and The Wall Street Journal.
The cinema chain is in talks with several interested parties and wants to lower its interest burden and stretch out maturities over several years.
AMC’s total debt is reportedly over US$5bn, with chief executive Adam Arron telling investors none of the maturities outstanding are due until at least 2023.
The company’s share price has tanked more than 40% this year after a meme-stock buying frenzy in 2021.
AMC tried to issue new shares twice last year but did not receive shareholder approval. As a result, it cannot release more shares to help pay its debt.