OUTFRONT Media Inc. (OUT): debt financing — OUTFRONT Media closes $1.0B refinancing; new revolver and term loan at improved pricing

OUTFRONT Media Inc.

New $500M revolving credit facility matures Sept 2030; $500M term loan matures Sept 2032.
SOFR-based pricing: revolver margin 1.25%-1.75%, term loan margin 1.75%-2.00%.
Proceeds used to repay existing secured facilities, AR facility, fees, and general corporate purposes.
CFO Matthew Siegel granted $400K one-time performance-based RSU award with three-year cliff vest.
Covenant requires Consolidated Net Secured Leverage Ratio ≤ 4.5x; standard events of default.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

OUTFRONT Media Inc. incurred credit facility of $1.0 billion, consisting of a $500.0 million revolving credit facility and a $500.0 million term loan with Wells Fargo Bank, National Association at SOFR plus an applicable margin ranging from 1.25% to 1.75% for the Revolving Cre maturing the Revolving Credit Facility will mature on September 24, 2030, and the Term Loan will mature on September 24, 2032.

Instrument: credit facility
Principal: $1.0 billion, consisting of a $500.0 million revolving credit facility and a $500.0 million term loan
Counterparty: Wells Fargo Bank, National Association
Rate: SOFR plus an applicable margin ranging from 1.25% to 1.75% for the Revolving Cre
Maturity: the Revolving Credit Facility will mature on September 24, 2030, and the Term Loan will mature on September 24, 2032
Event: incurrence

Exact text from the filing

The Credit Agreement provides for an aggregate borrowing amount of $1.0 billion, consisting of a $500.0 million revolving credit facility (the “Revolving Credit Facility”) and a $500.0 million term loan (the “Term Loan”).

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Source: SEC EDGAR

accession 0001579877-25-000113

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