AMC in Talks to Leverage European Assets for Another Lifeline

AMC Entertainment Inc. is in talks with Apollo Global Management Inc. and other top creditors over a potential financing deal backed by the cinema chain’s European assets, according to people familiar with the matter.

AMC, the world’s largest movie theater company, is negotiating with lenders including Apollo, Davidson Kempner Capital Management LP, and Ares Management Corp. to expand the line of credit available to the company’s U.K.-based Odeon Cinemas Group subsidiary, these people said.

The company, which since October has warned of a possible bankruptcy filing as pandemic restrictions shut down theaters world-wide, has also held talks with other creditor groups and potential outside investors, the people said.

AMC didn’t immediately respond to a request for comment.

AMC acquired Odeon, the largest cinema operator in Europe, in 2016. The subsidiary has a 100 million-pound revolving credit facility, worth approximately $135 million, which was fully drawn as of September.

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