National CineMedia, Inc.

$300m committed across 1 active facility, next covenant test Sep 30, 2026. NCMI

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Sep 21, 2026National CineMedia, Inc. signs $300m CREDIT AGREEMENT, matures Sep 2031 SEC ↗

CovenantTestedHeadroomLimit now

Tested quarterlyHeadroom not yet measured5.00x

From Jun 30, 2028 · 4.75x

Permit the Net Total Leverage Ratio as of the last day of any fiscal quarter (beginning with the end of the first full fiscal quarter ending after the Closing Date), to exceed the level set forth below with respect to the fiscal quarter ending on or about the date set forth opposite such level:

Read the filing on sec.gov ↗

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CREDIT AGREEMENT

Signed Sep 18, 2026

Committed: $300m
Matures: Sep 2031
Agent: CRESTLINE DIRECT FINANCE, L.P.

Tranche	Size	Matures	Margin
Initial Term Facility	$275m	Sep 2031	700 bps
Initial Revolving Facility	$25m	Sep 2031	700 bps

Priced over Term SOFR, floor 150 bps (Revolving credit facility).

Level	Condition	Margin	Unused fee
Level flat	all times	700 bps	n/a

Priced over Term SOFR, floor 150 bps (Term Loan B).

Level	Condition	Margin	Unused fee
Level No PIK Election	if the Company has not made a PIK Election	700 bps	n/a

§1.01

Lenders: CRESTLINE MANAGEMENT, L.P., ENCINA COMMERCIAL FINANCE HOLDCO, LLC

No amendments on file yet.

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