Outfront Media to price $500 million 10.25-year notes on Tuesday; talk 4 5/8%-4¾%

By Paul A. Harris

Portland, Ore., Nov. 12 – Outfront Media Capital LLC and Outfront Media Capital Corp. plan to price a $500 million offering of 10.25-year senior notes (existing ratings B1/BB-) in a quick-to-market Tuesday trade following a late-morning conference call with investors, according to market sources.

The deal comes with official price talk of 4 5/8% to 4¾%, tight to early guidance in the high 4% area.

Books close at 1:45 p.m. ET on Tuesday, and the Rule 144A and Regulation S for life deal is set to price thereafter.

BofA Securities Inc., Wells Fargo Securities LLC, BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC and SMBC Nikko Securities America Inc. are the joint bookrunners.

SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc. are the co-managers.

The notes become callable after 5.25 years at par plus 50% of the coupon.

The New York-based outdoor media company plans to use the proceeds to redeem its 5 7/8% senior notes due 2025 in full.

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