AMC Entertainment has agreed to a deal with two creditor groups that is intended to extend the vast majority of its debt maturities through 2029 via a drop-down transaction involving 175 theaters and the AMC brand itself.

The multifaceted liability management transaction was agreed to by holders of nearly two-thirds of AMC’s first lien term loan and nearly all of the second lien notes, with a structure in place for all of the first lien term loan and second lien noteholders to participate, according to sources and details of the announcement disclosed in an 8-K today.