On November 17, 2017, OUTFRONT Media Inc. (the “Company”), along with its wholly owned subsidiaries, Outfront Media Capital LLC (“Finance LLC”) and Outfront Media Capital Corporation (together with Finance LLC, the “Borrowers”), 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., as administrative agent and collateral agent, and the other lenders party thereto from time to time.

The Amendment reduces the interest rate margins applicable to the Borrowers’ existing term loan (the “Term Loan”) from 1.25% to 1.00%, in the case of base rate borrowings, and from 2.25% to 2.00% in the case of London Interbank Offered Rate (“LIBOR”) borrowings. The Amendment also includes an obligation for the Borrowers to pay a prepayment premium to the Term Loan lenders in the amount of 1.00% of the aggregate principal amount of the Term Loan in the event of another repricing transaction on or before the six-month anniversary of the Amendment, as well as other clarifying, conforming and ministerial changes to the Credit Agreement. The remaining terms of the Credit Agreement, as amended by the Amendment, are substantially the same as the terms under the existing Credit Agreement, including with respect to events of default and loan acceleration.

The foregoing description of the Amendment is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information contained in Item 1.01 is incorporated herein by reference.

(d) Exhibits. The following exhibit is filed herewith:

EXHIBIT INDEX

OUTFRONT Media Inc. Exhibit
EX-10.1 2 exhibit1011.htm EXHIBIT 10.1 Exhibit Exhibit 10.1AMENDMENT NO. 4 TO CREDIT AGREEMENT This Amendment No. 4 to Credit Agreement,…
To view the full exhibit click here

About OUTFRONT Media Inc. (NYSE:OUT)

OUTFRONT Media Inc., formerly CBS Outdoor Americas Inc., is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments. The United States segment includes the Company’s operations in the United States. The International segment includes the Company’s operations in Canada and Latin America, including Mexico, Argentina, Brazil, Chile and Uruguay. Along with leasing displays, the Company provides other services to customers, such as pre-campaign category research, consumer insights, creative design support, vinyl production, and post-campaign tracking and analytics. Its locations portfolio includes sites, such as the Bay Bridge in San Francisco, various locations along Sunset Boulevard in Los Angeles, and various sites in and around both Grand Central Station and Times Square in New York.