Display Technology

National CineMedia raises $50M through revolving credit agreement

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January 12, 2022

National CineMedia, Inc., the managing member and owner of 48.3% of National CineMedia, LLC, has entered into a revolving credit facility providing for $50 million of revolving loan commitments, drawn on Jan. 5, according to a company press release.

The loans incurred under the revolving credit facility accrue interest payable in cash at the rate of term Secured Overnight Financing Rate plus 8% per annum and will mature on June 20, 2023.

The credit agreement amendment also extends the limitations established by the previous agreement amendments through Dec. 28, 2023. Including the net proceeds from the revolving credit facility after fees, the company has a cash balance of $143.1 million as of Jan. 5.

NCM's "Noovie" pre-show is presented in 50 national and regional theater circuits including AMC Entertainment Inc. NCM's cinema advertising network delivers services to over 20,700 screens in more than 1,600 theaters in 195 designated market areas.