Finance

AMC surges after WSJ report that it’s working to avoid bankruptcy

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A medical worker wearing a mask walks near the AMC movie theater in Times Square amid the coronavirus pandemic on May 7, 2020 in New York City.

Alexi Rosenfeld | Getty Images

AMC Entertainment shares jumped as much as 21% after the close of regular trading on Tuesday following a story in the Wall Street Journal that the movie theater company is nearing a deal to avoid near-term bankruptcy.

The Journal, citing people familiar with the matter, said AMC is working on a restructuring deal, led by Silver Lake, that would have bondholders provide a $200 million loan, swapping out “their unsecured claims at a discount.” AMC would take that route over a financing offer from Apollo Global and other…



Source cnbc.com

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