CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, provided a $55 million revolving credit facility to National CineMedia to support the company’s emergence from Chapter 11 bankruptcy.
National CineMedia, a cinema advertising platform in the U.S., completed its financial restructuring process and emerged from Chapter 11 bankruptcy following the confirmation of the company’s plan of reorganization by the U.S. Bankruptcy Court for the Southern District of Texas at the end of June.
National CineMedia, a cinema advertising network, entered into a series of debt restructuring transactions that are expected to strengthen the company’s balance sheet and position the company for long-term growth.
National CineMedia LLC, a cinema advertising company, entered into a new $50 million revolving credit facility, with the entire amount drawn on Jan. 5. According to an 8K filed with the SEC, WSFS Bank is the administrative agent for the facility.
National CineMedia completed a credit agreement that included a $270 million term loan and a $175 revolving credit facility with JPMorgan as administrative agent.
National CineMedia closed on an amended senior secured credit facility, increasing its borrowings to $270 million in order to pay costs and expenses incurred with the amended credit facility.
National CineMedia LLC and National CineMedia, Inc. 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 margins on both credit facilities.