Outfront Media Prices $500M Senior Notes at 6.000%

By Chris Stiles • Thursday, June 04 15:03 • Permanent Link

Outfront Media said it priced a $500 million private offering of senior unsecured notes due 2034 at 100% of principal, with a 6.000% coupon.

The new notes will replace existing debt: the company said it plans to use the proceeds, along with borrowings from its accounts receivable securitization facility and cash on hand, to redeem all of its 5.000% senior notes due 2027. That means the company is moving from a 2027 maturity to a 2034 maturity while increasing the interest rate on the debt by 100 basis points, from 5.000% to 6.000%.

The notes are expected to close on June 12, 2026. Outfront also said it will use the financing to cover any accrued and unpaid interest on the 2027 notes through the redemption date, plus fees and expenses tied to both transactions.

The new notes will be guaranteed by Outfront Media and the subsidiaries that already guarantee its senior credit facilities. As a result of these announcements, the company's shares have moved 0.45% on the market, and are now trading at a price of $31.40. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.