Outfront Media to launch $1.1 billion credit facility on Tuesday

By Sara Rosenberg

New York, March 6 – Outfront Media Inc. is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a $1.1 billion senior secured credit facility, according to a market source.

Morgan Stanley Senior Funding Inc., Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Wells Fargo Securities LLC and MUFG are the lead banks on the deal.

The facility consists of a $430 million revolver and a $670 million first-lien term loan B, the source said.

Proceeds will be used to amend and extend an existing revolver and term loan B, upsize the term loan B by $10 million and pay related fees and expenses, the source added.

Outfront Media is a New York-based out-of-home media company.

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