AMC Networks is to float a $600 million issue of senior notes, the company said in an official statement. The notes will mature in 2022 and will be used to pay an outstanding loan facility that stands at $587.6 million, as well as the fees associated with the offering. The remainder will be used for what the company terms "general corporate purposes." It did not elaborate.
AMC Networks owns several cable channels, including its namesake, Sundance Channel, IFC, and WE tv. It also operates IFC Films, an independent film studio, and the IFC Center cinema in New York City.
AMC, the company's flagship TV station, broadcasts popular shows such as the zombie saga The Walking Dead and the 1960s-set period drama Mad Men.
The syndicate of book-runners in the notes offering includes Bank of America unit Merrill Lynch, Citigroup , US Bancorp , and Goldman Sachs .
The article AMC Networks Plans Offering of $600 Million in Notes originally appeared on Fool.com.
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