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AMC Networks plans offering of $600M notes

NEW YORK (AP) -- AMC Networks is planning a public offering of $600 million senior notes due 2022.

The owner and operator of cable television brands including AMC, Sundance Channel and WEtv, said Monday that it plans to use the offering's proceeds to pay back about $587.6 million outstanding under a facility and to pay fees and expenses related to the offerings. Remaining funds will be used for general corporate purposes.

Last month AMC Networks Inc. posted third-quarter results that beat Wall Street's expectations.

The New York company's stock added 41 cents to $52.82 in afternoon trading on Monday.