Investors plan boycott of AMC buyout deal
Buyout firms’ refusal to honor change-of-control provisions angers AMC bondholders
A $625 million high-yield financing by Apollo Management and JPMorgan that will be used to help pay for the planned $2 billion purchase of AMC Entertainment is encountering stiff resistance from investors. According to Corporate Financing Week, bondholders representing over $50 billion may reportedly boycott the high-yield offering over the buyout firms’ decision not to honor the change-of-control provisions, which are part of the high-yield contracts.
Yet, the buyout firms argue that since
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