Stock Alert: AMC Networks Touches New High

Shares of AMC Networks Inc. (AMCX) touched a new 52-week high of $73 this morning. Currently, the stock is at $63.21, 5% up.

On January 25, the company announced the pricing of its $1 billion of 4.25% Senior Notes due 2029. The offering is expected to close on February 8, 2021.

AMC Networks intends to use the proceeds of the offering to redeem the remaining $400 million principal amount of the Company’s 4.75% Senior Notes due December 2022 and $600 million principal amount of the Company’s 5.00% Senior Notes due April 2024.

AMC Networks is a global entertainment company with a portfolio of brands including AMC, BBC AMERICA which is operated through a joint venture with BBC Studios, IFC, SundanceTV, WE tv, IFC Films, and a number of streaming services, including the AMC+ premium streaming bundle, Acorn TV, Shudder, Sundance Now and ALLBLK.

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