NEW YORK, Nov. 20, 2017 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE: OUT), announced today that it, along with certain wholly owned subsidiaries, has reduced the interest rate margins on its existing $670 million outstanding term loan by 0.25%. In the case of London Interbank Offered Rate ("LIBOR") borrowings, the margin is reduced to 2.00% from 2.25%, and in the case of base rate borrowings, the margin is reduced to 1.00% from 1.25%.

The interest rate reduction was made through an amendment to the Company's credit agreement dated as of January 31, 2014. The amendment also includes an obligation for the Company to pay a prepayment premium to the term loan lenders in the amount of 1.00% of the aggregate principal amount of the term loan in the event of another repricing transaction on or before the six-month anniversary of this amendment, as well as other clarifying, conforming and ministerial changes to the credit agreement. The remaining terms of the credit agreement, as amended by the amendment, are substantially the same as the terms under the existing credit agreement, including with respect to events of default and loan acceleration.

About OUTFRONT Media Inc.
OUTFRONT Media connects brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its ON Smart Media platform, OUTFRONT Media is implementing digital technology that will fundamentally change the ways advertisers engage people on-the-go.



    Contacts:


    Investors:                      Media:

    Gregory Lundberg                Carly Zipp

    (212) 297-6441                  (212) 297-6479

    greg.lundberg@OUTFRONTmedia.com carly.zipp@OUTFRONTmedia.com

View original content with multimedia:http://www.prnewswire.com/news-releases/outfront-media-lowers-term-loan-interest-rates-300559287.html

SOURCE OUTFRONT Media Inc.