National CineMedia said today it’s negotiated a second extension of the grace period on interest payments originally due Feb.
15. A one-month grace period for a payment said to be about $6.6 million ended March 15, when the company announced lenders had agreed to another 17 days.
Big ratings agencies Moody’s and S&P Global declared the cinema advertising firm in technical default then and raised the possibility of a restructuring.
With that deadline set to expire, the company has revealed in a SEC filing another ten-day reprieve – or a total grace period upped from 47 to 57 days — to pay interest on 5.75% senior unsecured notes due in 2026.Read more on deadline.com
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