AMC Entertainment (AMC) stock fell Thursday following the pricing of a $3.97 billion debt refinancing package announced after Wednesday's market close.

The company priced $2 billion in first lien senior secured notes due 2031 at an 8.875% interest rate, a fixed rate borrowers pay lenders. AMC also priced an $850 million term loan facility, a type of borrowed funds repaid over a set schedule, at SOFR plus 4.50%.

Refinancing Details

The offering and new term loan facility, together with a previously announced $1.12 billion second lien term loan facility with Deutsche Bank AG New York Branch, are expected to close on or around Oct. 5.

Net proceeds will fund a tender offer for AMC's 7.5% senior secured notes due 2029, redeem Muvico LLC's 1.5L notes and repay existing term loan facilities at AMC and Odeon Finco PLC.

While the move successfully delays its heavy 2029 debt obligations to 2031, the high interest rates remind investors that servicing this debt will heavily restrict the company's free cash flow for years to come.

Technical Analysis

From a longer-term trend perspective, AMC is still holding a constructive structure: the stock is trading above its 20-day ($2.64) and 50-day ($2.56) SMAs, and it's well above the 200-day SMA at $1.82 — evidence the bigger trend has improved even as Thursday's session is pulling price back. The Golden Cross that formed in July (50-day SMA moving above the 200-day SMA) remains a key backdrop bulls will want to defend.

Momentum also leans constructive despite the pullback: MACD is above its signal line and the histogram is positive, which suggests downside pressure is easing versus the prior downswing.

• Key Resistance: $3.18 — The 52-week high zone that marks the next major overhead supply area.
• Key Support: $2.64 — Near the 20-day SMA, a level short-term traders often watch for "trend support" during pullbacks

AMC Stock Price Activity: AMC Entertainment shares were down 4.70% at $2.74 at the time of publication on Thursday, according to market data.