AMC Networks extends $111.8M revolver, repurchases $165.7M loans

AMC Networks amended its credit agreement to extend the maturity of $111.8 million of revolving credit commitments to the earlier of October 29, 2030 or 90 days before any capital markets debt over $50.0 million matures.

Rhea-AI Filing Summary

AMC Networks amended its credit agreement to extend the maturity of $111.8 million of revolving credit commitments to the earlier of October 29, 2030 or 90 days before any capital markets debt over $50.0 million matures. The remaining $63.2 million of revolver commitments keep their existing maturity of April 9, 2028.

The company also repurchased and permanently retired term loans totaling $165.7 million at par plus accrued interest, leaving approximately $85.6 million of term loans outstanding. Covenant terms were modified, including reducing the minimum interest coverage ratio from 2.00:1.00 to 1.50:1.00, with a step-up to 1.75:1.00 for fiscal quarters ending on or after December 31, 2028.

Insights

Credit markets analyst

AMCX extends liquidity runway, reduces term debt, and eases a key covenant.

AMC Networks extended $111.8M of revolver commitments to Oct 29, 2030 (subject to a 90-day springing condition tied to > $50.0M capital markets maturities) while $63.2M remains due Apr 9, 2028. It repurchased and retired term loans of $165.7M at par plus accrued interest, leaving $85.6M outstanding.

The amendment lowers the minimum interest coverage ratio from 2.00x to 1.50x, stepping to 1.75x for quarters ending on or after Dec 31, 2028. This provides additional headroom under the facility while preserving lender protections through a future step-up.

Key mechanics include the springing maturity linked to other capital markets debt and the remaining term loan balance. Actual liquidity usage and any future refinancing will depend on subsequent actions and market conditions as disclosed in future filings.

8-K Event Classification

2 items: 1.01, 2.03

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did AMC Networks (AMCX) change in its credit facility?

It extended the maturity of $111.8 million of revolver commitments to the earlier of October 29, 2030 or 90 days before certain debt matures.

How much revolver capacity kept the original maturity at AMCX?

$63.2 million of commitments retain the existing maturity of April 9, 2028.

How much term debt did AMCX retire and what remains?

It repurchased and retired $165.7 million of term loans, leaving approximately $85.6 million outstanding.

Did AMC Networks change any financial covenants?

Yes. The minimum interest coverage ratio was reduced from 2.00:1.00 to 1.50:1.00, stepping to 1.75:1.00 for quarters ending on or after December 31, 2028.

What condition could shorten the extended revolver maturity at AMCX?

A springing maturity triggers 90 days before any capital markets indebtedness over $50.0 million reaches its maturity date.

At what price did AMCX repurchase the term loans?

At a price equal to the principal amount plus accrued and unpaid interest.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 10/30/2025 - 04:02 PM Learn about SEC filing dates

FALSE000151499100015149912025-10-292025-10-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 30, 2025 (October 29, 2025)

Commission File Number: 1-35106

AMC Networks Inc.

(Exact name of registrant as specified in its charter)

Nevada						27-5403694
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)
11 Penn Plaza,
New York,			NY			10001
(Address of principal executive offices)						(Zip Code)

(212) 324-8500

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.01 per share

AMCX

The

NASDAQ

Stock Market LLC

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 1.01    Entry into a Material Definitive Agreement.

Amendment No. 5 to Credit Agreement

On October 29, 2025, AMC Networks Inc. (“AMC Networks”) entered into Amendment No. 5 (“Amendment No. 5”) to the Second Amended and Restated Credit Agreement, dated as of July 28, 2017 (as amended to date and by Amendment No. 5, the “Credit Agreement”), among AMC Networks and its subsidiary, AMC Network Entertainment LLC (“AMC Network Entertainment”), as the initial borrowers, certain of AMC Networks’ subsidiaries, as restricted subsidiaries, Bank of America, N.A., as an L/C Issuer, the lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent and an L/C Issuer.

Pursuant to Amendment No. 5, the maturity date of $111.8 million of commitments under the Revolving Credit Facility was extended to the earlier of (i) October 29, 2030 and (ii) the date that is 90 days prior to the maturity date of any capital markets indebtedness of AMC Networks with an aggregate outstanding principal amount exceeding $50.0 million. The remaining $63.2 million of commitments under the Revolving Credit Facility retained their existing maturity date of April 9, 2028. In connection with Amendment No. 5, AMC Networks repurchased and permanently retired term loans held by certain lenders that consented to the maturity extension, in an aggregate principal amount equal to $165.7 million, at a price equal to the principal amount thereof plus accrued and unpaid interest. After giving effect to these repurchases, the remaining principal amount of the term loans outstanding under the Credit Agreement is approximately $85.6 million.

Amendment No. 5 also includes certain other modifications to covenants and other provisions of the Credit Agreement, including a reduction in the minimum interest coverage ratio from 2.00:1.00 to 1.50:1.00, with a step-up to 1.75:1.00 for fiscal quarters ending on or after December 31, 2028.

The foregoing summary is qualified in its entirety by reference to Amendment No. 5, which is attached as Exhibit 10.1 hereto and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 above is hereby incorporated by reference into this Item 2.03.

Item 9.01     Exhibits.

(d) Exhibits.

Exhibit Number						Item
10.1						Amendment No. 5, dated as of October 29, 2025, to Second Amended and Restated Credit Agreement, dated as of July 28, 2017, among AMC Networks and its subsidiary, AMC Network Entertainment, as the initial borrowers, certain of AMC Networks’ subsidiaries, as restricted subsidiaries, Bank of America, N.A., as an L/C Issuer, the lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent and an L/C Issuer.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AMC Networks Inc.

Date:

October 30, 2025

By:

/s/ Anne G. Kelly

Anne G. Kelly

Executive Vice President and Corporate Secretary