National CineMedia, Inc. (NCMI), a media holding company that manages its unit National CineMedia, LLC, on Monday reaffirmed its first quarter outlook, noting that it is comfortable with the upper end of its previously provided adjusted OIBDA forecast range.
While announcing its fourth-quarter results in February, the company said it expects adjusted OIBDA in the range of $24 million to $28 million, representing a decline of 3 percent to an increase of 13 percent from last year's $24.8 million.
The company also said then that it expects first-quarter total revenue in the range of $79 million to $84 million, or approximately flat to up 6 percent from last year's $79.1 million.
In addition, the company said today that its unit National CineMedia has launched a repricing of its $265 million term loan and $110 million of its revolving credit facility to lower the applicable margins on both of those credit facilities.
The new $270 million term loan facility would replace the entire outstanding term loan at lower interest rates. NCM LLC intends to use any excess proceeds for general corporate purposes. The company also said that there can be no assurance that the transactions will be completed.
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