CENTENNIAL, Colo.--(BUSINESS WIRE)--
National CineMedia, LLC ("NCM LLC") and National CineMedia, Inc.
(NASDAQ: NCMI) (the "Company"), the managing member and owner of 43.6%
of NCM LLC, announced today that NCM LLC has priced its private
placement $250 million aggregate principal amount of 5.75% Senior Notes
due 2026 (the "Notes"). The private placement of the Notes is expected
to close on Friday, August, 19, 2016, subject to certain closing
conditions. The Notes will be senior unsecured obligations of NCM LLC,
and will bear interest at a fixed rate.
NCM LLC intends to use the net proceeds from the proposed offering to
finance the redemption of its $200 million Senior Notes due 2021 and to
pay related fees and expenses. Any remaining net proceeds will be used
for general corporate purposes, including the repayment of any
outstanding balances under NCM LLC's revolving credit facility.
The Notes have not been registered under the Securities Act of 1933, as
amended (the "Securities Act"), or applicable state securities laws and
may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws. NCM LLC plans to
offer and sell the Notes only to qualified institutional buyers pursuant
to Rule 144A under the Securities Act and to persons outside the United
States pursuant to Regulation S under the Securities Act.
This press release is for informational purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy the
offered Notes, nor shall there be any sales of Notes in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. This press release shall not constitute a notice of
redemption with respect to the Senior Notes due 2021.
Forward Looking Statements
This press release contains various forward-looking statements that
reflect management's current expectations or beliefs regarding future
events, including the proposed notes offering by NCM LLC. Investors
are cautioned that reliance on these forward-looking statements involves
risks and uncertainties. Although NCM LLC and the Company believe
that the assumptions used in the forward looking statements are
reasonable, any of these assumptions could prove to be inaccurate and,
as a result, actual results could differ materially from those expressed
or implied in the forward looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160816006211/en/
Amy Jane Finnerty, 212-931-8117
Source: National CineMedia
News Provided by Acquire Media