NEW YORK, March 30, 2016 (GLOBE NEWSWIRE) -- AMC Networks Inc. ("AMC Networks" or the "Company") (Nasdaq:AMCX) today announced the closing of its previously announced tender offer to purchase for cash (the "Tender Offer") any and all of its outstanding 7.75% Senior Notes due 2021 (the "Notes"). The Tender Offer expired at 5:00 p.m., New York City time, on March 29, 2016 (the "Expiration Date"). At the Expiration Date, valid tenders had been received with respect to approximately $654 million of the $700 million aggregate principal amount of the 2021 Notes outstanding.
The Company has accepted for payment all 2021 Notes validly tendered prior to the Expiration Date pursuant to the Tender Offer. On March 30, 2016, such tendering holders will receive the purchase price in the amount of $1,058.57 for each $1,000 principal amount of 2021 Notes tendered, plus accrued and unpaid interest to, but not including, the date hereof. In addition, the Company will accept any additional 2021 Notes properly tendered by means of the guaranteed delivery procedures provided.
Dedicated to producing quality programming and content for more than 30 years, AMC Networks Inc. owns and operates several of the most popular and award-winning brands in cable television. AMC, IFC, SundanceTV, WE tv, and IFC Films produce and deliver distinctive, compelling and culturally relevant content that engages audiences across multiple platforms. The company also operates BBC America through a joint venture with BBC Worldwide. In addition, the company operates AMC Networks International, its global division.
This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the company and its business, operations, financial condition and the industries in which it operates and the factors described in the company's filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. The company disclaims any obligation to update any forward-looking statements contained herein.
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