AMC Networks slides on convertible debt deal plans

AMC Global Media

17/06/2024 12:36

** Shares of AMC Networks  AMCX.O  down 10.2% premarket to
$14.10, over 1-mth low, as co plans capital raise
    ** Cable television and film entertainment co announces
private offering of $125 mln convertible bonds due 2029
    ** Co to use net offering proceeds for general purposes,
including debt repayment
    ** It has ~$692 mln market cap, per LSEG data
    ** AMCX down 16% YTD through Fri close
    ** Half of 8 analysts covering the stock rate it "hold",
rest "sell" with $12 median PT

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))