---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-008998"
form_type: "8-K"
ticker: "NCMI"
cik: "0001377630"
company_name: "National CineMedia, Inc."
filed_at: "2025-01-27T23:59:59+00:00"
generated_at: "2026-05-27T09:09:06.888409+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# National CineMedia enters $45M credit facility with U.S. Bank, replaces prior $55M facility

## Summary
- New $45M senior secured revolving credit facility matures Jan 24, 2028; no borrowings drawn as of Jan 27.
- Interest at term SOFR + 2.00% with 0.25% commitment fee on undrawn portion.
- Covenants: max leverage ratio 2.25x, min fixed charge coverage 1.50x, measured quarterly.
- Repaid and terminated prior $55M asset-based facility, reducing interest expense and extending maturity.
- $5M sublimit for letters of credit; secured by substantially all assets.

## SEC filing metadata
- accession: 0000950170-25-008998
- form_type: 8-K
- ticker: NCMI
- cik: 0001377630
- company_name: National CineMedia, Inc.
- filed_at: 2025-01-27T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377630/000095017025008998/0000950170-25-008998-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377630/000095017025008998/ncmi-20250124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-008998
- JSON: https://secwatch.observer/filing/0000950170-25-008998.json
- Plain text: https://secwatch.observer/filing/0000950170-25-008998.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.