AMC Entertainment Holdings Inc.'s (NYSE: AMC) subsidiary Odeon Finco PLC completed a $425 million term loan with Deutsche Bank AG New York Branch to refinance existing debt.

The new first lien term loan carries a 10.50% interest rate and matures in 2031. Odeon used the proceeds to fully redeem its outstanding 12.750% Senior Secured Notes due 2027 and cover related transaction costs.

The refinancing extends Odeon's debt maturity by four years while reducing annual cash interest expenses. AMC has not pledged any of its assets to secure the new loan, and the company's guarantee does not include security interest over collateral.

The transaction resulted in the delisting of the redeemed notes from the Official List of The International Stock Exchange. The new loan maintains substantially the same collateral and guarantor structure as the previous notes.

AMC operates approximately 850 theaters and 9,600 screens globally, making it the largest movie exhibition company in the United States, Europe, and worldwide according to the company.

The information was disclosed in a company press release statement.