OUTFRONT Media amends credit agreement to replace LIBOR with Term SOFR

OUTFRONT Media Inc.

Amendment No. 7 replaces LIBOR with Term SOFR as interest rate benchmark in credit agreement dated Jan 31, 2014.
Existing LIBOR loans continue through their current interest period, then convert to 1-month Term SOFR loans.
Amendment effective May 24, 2023; no lender objection within five business days of May 17 posting.
All other material terms of the credit agreement remain unchanged.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

OUTFRONT Media Inc. amended Amendment with Morgan Stanley Senior Funding, Inc. and the other lenders party thereto (effective 2023-05-24).

Action: amendment
Agreement: credit facility
Counterparty: Morgan Stanley Senior Funding, Inc. and the other lenders party thereto
Effective: 2023-05-24

Exact text from the filing

On May 24, 2023, OUTFRONT Media Inc. (the “Company”), along with its wholly-owned subsidiaries, Outfront Media Capital LLC and Outfront Media Capital Corporation, and the other guarantors party thereto, entered into an amendment (the “Amendment”) to its credit agreement, dated as of January 31, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified, the “Credit Agreement”), with Morgan Stanley Senior Funding, Inc. and the other lenders party thereto from time to time.

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Source: SEC EDGAR

accession 0001579877-23-000053

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