Outfront Media amended its credit agreement dated January 31, 2014 with Morgan Stanley Senior Funding as successor administrative agent and collateral agent to Citibank.

The amendment included an increase to the revolving credit facility by $5 million to $430 million to accommodate an orderly allocation of loan commitments among the lenders under the credit agreement. It also provided for the incurrence of a $10 million incremental term loan primarily to cover transaction fees and expenses, which increased the outstanding principal balance of the term loan to $670 million.

The amendment also provided for the extension of the maturity date of the borrowers’ existing revolving credit facility from January 31, 2019 to March 16, 2022 and the extension of the maturity date of the borrowers’ existing term loan from January 31, 2021 to March 16, 2024.

The amendment included revisions to certain provisions of the credit agreement to, among other things, lower the interest rate floor for all loans to 0.00%, and update covenants for greater operational and financial flexibility to the company.

The facility and term loan are secured by the same collateral and guaranteed by the same guarantors as under the existing credit agreement, except that the existing mortgages on the borrowers’ fee-owned real property have been released under the amendment.