National CineMedia Announces Proposed Refinancing
National CineMedia LLC and National CineMedia, Inc., the managing member and owner of 46.9% of NCM LLC, announced that NCM LLC has launched a re-pricing of its $265 million term loan and $110 million of its revolving credit facility to lower the applicable margins on both of those credit facilities.
According to news release dated 11/27/12, NCM’s $265 million term loan was arranged by Barclays, J.P. Morgan, Credit Suisse, Macquarie and Morgan Stanley Capital.
The new $270 million term loan facility would replace the entire outstanding term loan at lower interest rates. Upon completion of the proposed transaction, and payment of costs and expenses incurred therewith, NCM LLC intends to use any excess proceeds for general corporate purposes. MCM said there can be no assurance that the transactions will be completed.
Centennial, CO-based NCM operates NCM Media Networks, an integrated media company reaching U.S. consumers in movie theaters, online and through mobile technology.
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