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AMC shares surged as the chain approached an agreement to avoid bankruptcy

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AMC shares surged as the chain approached an agreement to avoid bankruptcy

AMC Entertainment, struggling because the cinema has been closed by locking up the coronavirus, saw its stock surge nearly 10 percent on Wednesday amid reports that it was approaching a debt restructuring agreement to avoid bankruptcy.

The company, which operates around 1,000 theaters throughout the world, has been trying for weeks to get bondholders to agree to exchange debt at a discount but only a relatively small percentage was agreed on June 30. On Tuesday, the company said in a securities filing that the lender had extended the deadline.

However, AMC is approaching an agreement for bondholders to provide senior loans of $ 200 million and exchange subordinated debt with new senior debt, according to a report Wednesday from The Wall Street Journal.

The Post first reported in April that the largest cinema chain in the country was in talks with law firm Weil Gotshal & Manges to explore the potential of archiving Chapter 11.

The nearly agreed plan will let the Silicon Valley-based investment company, Silver Lake, which has $ 600 million in AMC debt and has a seat on the board, share in guarantees promised to the company as part of the restructuring. The plan was opposed by senior lenders, Apollo Global Management, Davidson Kempner Asset Management and Ares Management, the report said.

Apart from the behind-the-scenes battles, what is important for AMC is getting a cash pillow to help it cope with storms until the pandemic weakens and the cinema can be safely reopened.

At present, US theaters, which are closed in mid-March, will not open until July 30 in most countries. In the two largest markets – New York and Los Angeles – there has not been a firm reopening date as the virus continues to surge nationally.

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A moment of silence in Portuguese football over the tragedy in Indonesia

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A moment of silence in Portuguese football over the tragedy in Indonesia

The Portuguese Football Federation (FPF) announced this Sunday a minute of silence at the competitions it organizes, namely the Portuguese Cup, in memory of the victims of the tragedy that occurred in Indonesia.

“The Directorate of the Portuguese Football Federation announces a moment of silence in memory of the victims of the tragedy that occurred at the football stadium in Indonesia. The official website of the organization.

In the same note, FPF President Fernando Gomes says that “with great surprise and a feeling of deep pain, but also indignation” he learned “of the tragic scale of the events that have taken place in the stadium. in Indonesia”.

“It is with great sadness that I deplore the dramatic consequences of this tragedy, which resulted in the death of more than 170 fans, including many children. A football stadium should be a stage for celebration and joy, not for violence and death,” he said. concluded.

A moment of silence will be observed at the competitions organized by the FPF, namely the Portuguese Cup, the second stage of which will take place this weekend.

Indonesian authorities said 174 people were killed in unrest at the end of a football match in East Java, but acknowledged that the number could rise as many of them were critically injured.

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The tragedy, one of the worst in the history of football, occurred on Saturday evening when about 3,000 fans took to the field after Arema’s home team lost 3-2 to rivals Persebay Surabaya.

Police fired tear gas to try to contain the angry supporters, but their actions caused panic and thousands of people rushed to the exit.

Many people were trampled to death in the chaos of the stampede. At least two police officers were killed in the unrest that spread outside the stadium.

The Indonesian league was suspended and the authorities ordered an investigation into the incidents.

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New serious injury of the player of the national team of Portugal

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Extremo português oferecido ao Manchester United Lesão Pedro Neto

An injury forces Pedro Neto to be substituted in the Wolves game.

Bad news for Wolverhampton Wanderers and Pedro Neto. The Portuguese received a new injury, and, according to Bruno Lage, it could be serious.

Away to West Ham, where the Portuguese lost 2-0, Pedro Neto was replaced in the 24th minute by Adama Traore, and after the match, the Wolves coach said that the injury could be “ugly”.

Wolves are now in the Premier League relegation zone, and Pedro Neto may be left with no hope of qualifying for the World Cup in Qatar.

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The expedition will explore “an area still little known”: the Portuguese Sea.

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The expedition will explore "an area still little known": the Portuguese Sea.

The Oceano Azul Foundation has joined the municipalities of Cascais, Mafra and Sintra and set off together this Saturday on the ship “Santa Maria Manuela” for a scientific expedition that will last until 12 October.

On board will be 50 researchers from institutions such as the Portuguese Institute of the Sea and Atmosphere (IPMA), the Hydrographic Institute or the Portuguese Society for the Study of Birds (SPEA). During this time, scientists will embark on what they consider to be an “essential” process of “investigating the region’s natural values” that will allow for a “global assessment of the marine biodiversity” that exists in that region of the ocean.

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