EX-99.1 76 d824494dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

OUTFRONT MEDIA CAPITAL LLC

and

OUTFRONT MEDIA CAPITAL CORPORATION

LETTER OF TRANSMITTAL

Offer to Exchange up to

$550,000,000

Aggregate Principal Amount of

Newly Issued

5.250% Notes due 2022

(CUSIP No. 12505FAB7)

 

Offer to Exchange up to

$400,000,000

Aggregate Principal Amount of

Newly Issued

5.625% Notes due 2024

(CUSIP No. 12505FAD3)

 

Offer to Exchange up to

$450,000,000

Aggregate Principal Amount of

Newly Issued

5.875% Notes due 2025

(CUSIP No. 12505FAF8)

For   For   For

a Like Principal Amount of

Outstanding

Restricted 5.250% Notes due 2022

Issued on January 31, 2014

and October 1, 2014

(CUSIP Nos. 12505FAA9, U12492AC5

and U12492AA9)

 

a Like Principal Amount of Outstanding

Restricted 5.625% Notes due 2024

Issued on January 31, 2014

(CUSIP Nos. 12505FAC5 and U12492AB7)

 

a Like Principal Amount of

Outstanding

Restricted 5.875% Notes due 2025

Issued on October 1, 2014

(CUSIP Nos. U12492AD3 and 12505FAE1)

THE EXCHANGE OFFER WILL EXPIRE AT 9:00 A.M. NEW YORK CITY TIME ON ,              2014, UNLESS EXTENDED (SUCH DATE, AS THE SAME MAY BE EXTENDED, THE “EXPIRATION DATE”). ORIGINAL NOTES (AS DEFINED BELOW) TENDERED IN THE EXCHANGE OFFER MAY BE WITHDRAWN AT ANY TIME PRIOR TO THE EXPIRATION DATE.

The Prospectus, dated             , 2014 (the “Prospectus”), and this corresponding Letter of Transmittal, relate to the offer of Outfront Media Capital LLC and Outfront Media Capital Corporation (together, the “Companies”), each a wholly-owned subsidiary of OUTFRONT Media Inc. (the “Parent Guarantor”), to exchange (the “Exchange Offer”):

 

    up to $550,000,000 aggregate principal amount of their 5.250% Notes due 2022 (the “New 2022 Notes”), which will be issued in a transaction registered under the Securities Act of 1933 (the “Securities Act”), for a like principal amount of the Companies’ outstanding restricted 5.250% Notes due 2022 (the “Original 2022 Notes”);

 

    up to $400,000,000 aggregate principal amount of their 5.625% Notes due 2024 (the “New 2024 Notes”), which will be issued in a transaction registered under the Securities Act, for a like principal amount of the Companies’ outstanding restricted 5.625% Notes due 2024 (the “Original 2024 Notes”); and

 

    up to $450,000,000 aggregate principal amount of their 5.875% Notes due 2025 (the “New 2025 Notes”), which will be issued in a transaction registered under the Securities Act, for a like principal amount of the Companies’ outstanding restricted 5.875% Notes due 2025 (the “Original 2025 Notes”).

We refer to the Original 2022 Notes, the Original 2024 Notes and the Original 2025 Notes collectively as the “Original Notes.” We refer to the New 2022 Notes, the New 2024 Notes and the New 2025 Notes collectively as the “Exchange Notes.”

The Original Notes are, and the Exchange Notes will be, fully and unconditionally guaranteed on a senior unsecured basis by the Parent Guarantor and each of its direct and indirect subsidiaries that guarantees the Senior Credit Facilities.


The Original 2022 Notes and the Original 2024 Notes were issued pursuant to an indenture, dated January 31, 2014 (the “2022 & 2024 Indenture”), by and between the Companies, the guarantors party thereto and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture, dated October 1, 2014, by and among the Companies, the guarantors party thereto and the Trustee, and the Second Supplemental Indenture, dated October 31, 2014, by and among the Companies, the guarantors party thereto and the Trustee. The Original 2025 Notes were issued pursuant to an indenture, dated October 1, 2014 (together with the 2022 & 2024 Indenture, the “Indentures”), by and among the Companies, the guarantors party thereto and the Trustee, as supplemented by the First Supplemental Indenture, dated October 31, 2014, by and among the Companies, the guarnators party thereto and the Trustee.

Capitalized terms used but not defined in this Letter of Transmittal have the meanings assigned to them in the Prospectus. All terms and conditions contained in, or otherwise referred to in, the Prospectus are deemed to be incorporated in, and form a part of, this Letter of Transmittal. Therefore you are urged to read carefully the Prospectus and the items referred to therein. The terms and conditions contained in the Prospectus, together with the terms and conditions governing this Letter of Transmittal and the instructions herein, are collectively referred to herein as the “terms and conditions.”

The exchange agent for the Exchange Offer is:

DEUTSCHE BANK TRUST COMPANY AMERICAS

Questions relating to the procedure for tendering, as well as requests for additional copies of the Prospectus or this Letter of Transmittal, should be directed to the exchange agent addressed as follows:

By Registered or Certified Mail,

Overnight Courier or Hand Delivery

Deutsche Bank Trust Company Americas, as Exchange Agent

DB Services Americas, Inc.

5022 Gate Parkway, Suite 200

Jacksonville, FL 32256

United States of America

Attention: Reorg. Department

Tel: +1 (877) 843 9767

Email: DB.Reorg@db.com

This Letter of Transmittal is to be used by Holders of the Original Notes. Tender of Original Notes is to be made using the Automated Tender Offer Program (“ATOP”) of The Depository Trust Company (“DTC”) pursuant to the procedures set forth in the Prospectus under the caption “The Exchange Offer—How to Tender.” DTC participants that are accepting the Exchange Offer must transmit their acceptance to DTC, which will verify the acceptance and execute a book-entry delivery to the exchange agent’s DTC account. DTC will then send a computer-generated message known as an “agent’s message” to the exchange agent for its acceptance. For you to validly tender your Original Notes in the Exchange Offer, the exchange agent must receive, prior to the Expiration Date, an agent’s message under the ATOP procedures that confirms that:

 

    DTC has received your instructions to tender your Original Notes; and

 

    you agree to be bound by the terms and conditions of this Letter of Transmittal.

By using the ATOP procedures to tender Original Notes, you will not be required to deliver this Letter of Transmittal to the exchange agent. However, you will be bound by its terms and conditions, and you will be deemed to have made the acknowledgments and the representations and warranties it contains, just as if you had signed it. The tender of Original Notes by you pursuant to the procedures set forth in this Letter of Transmittal and the Prospectus will constitute an agreement between you and us in accordance with the terms and subject to


the conditions set forth in this Letter of Transmittal and the Prospectus. If you have questions or need help, or if you would like additional copies of the Prospectus and this Letter of Transmittal, you should contact the exchange agent at its telephone number or address set forth above.

The Exchange Notes will be issued in full exchange for Original Notes in the Exchange Offer, if consummated, on the exchange date and will be delivered in book-entry form.

As used in this Letter of Transmittal, the term “Holder” means any person in whose name Original Notes are held of record by DTC and who desires to deliver such notes by book-entry transfer at DTC.

Please read the accompanying instructions carefully.


Ladies and Gentlemen:

According to the terms and conditions of the Exchange Offer, I hereby tender to the Companies the principal amount of Original Notes credited by me to the exchange agent’s account at DTC using ATOP. At the time these notes are accepted by the Companies and exchanged for the same principal amount of Exchange Notes, I will sell, assign and transfer to the Companies all right, title and interest in and to the Original Notes I have tendered. I am aware that the exchange agent also acts as the agent of the Companies. Upon agreement to the terms and conditions of this document pursuant to an agent’s message, I irrevocably constitute and appoint the exchange agent as my agent and attorney-in-fact for the tendered Original Notes with full power of substitution to:

 

    cause the Original Notes to be assigned, transferred and exchanged;

 

    transfer ownership of the Original Notes on the account books maintained by DTC, to the Companies and deliver all accompanying evidences of transfer and authenticity to the Companies; and

 

    present the Original Notes for transfer on the books of the Companies, receive all benefits and exercise all rights of beneficial ownership of these Original Notes according to the terms and conditions of the Exchange Offer. The power of attorney granted in this paragraph is irrevocable and coupled with an interest.

With respect to the each series of Original Notes, I represent and warrant that I have full power and authority to tender, exchange, assign and transfer the Original Notes of such series that I am tendering and to acquire Exchange Notes issuable upon the exchange of the tendered Original Notes of such series. I represent and warrant that the Companies will acquire good and unencumbered title to such Original Notes, free and clear of all liens, restrictions, other than restrictions on transfer, charges and encumbrances, and that such Original Notes are not and will not be subject to any adverse claim at the time the Companies acquire them. I further represent that:

 

    I am not an “affiliate” (as defined in Rule 405 under the Securities Act) of the Companies or their subsidiaries, or, if I am an affiliate of the Companies or their subsidiaries, I will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable;

 

    any Exchange Notes I will acquire in exchange for the Original Notes I have tendered will be acquired in the ordinary course of business;

 

    I have not entered into, engaged in, do not intend to engage in, and have no arrangement or understanding with any person to engage in, a distribution of any Exchange Notes issued to me;

 

    I am not a broker-dealer who purchased the Original Notes for resale pursuant to an exemption under the Securities Act tendering Original Notes acquired directly from the Companies for my own account; and

 

    I am not restricted by any law or policy of the U.S. Securities and Exchange Commission (the “SEC”) from trading the Exchange Notes acquired in the Exchange Offer.

I understand that the Exchange Offer is being made in reliance on interpretations contained in letters issued to third parties by the staff of the SEC, including Exxon Capital Holdings Corporation, SEC No-Action Letter (available May 13, 1988) (“Exxon Capital Holdings Corporation Letter”), Morgan Stanley & Co. Incorporated, SEC No-Action Letter (available June 5, 1991) and Shearman & Sterling, SEC No-Action Letter (available July 2, 1993). These letters provide that the Exchange Notes issued in exchange for the Original Notes in the Exchange Offer may be offered for resale, resold, and otherwise transferred by a Holder of Exchange Notes, unless that person is an “affiliate” of the Companies within the meaning of Rule 405 under the Securities Act, without compliance with the registration and prospectus delivery provisions of the Securities Act. The Exchange Notes must be acquired in the ordinary course of the Holder’s business and the Holder must not be engaging in, must not intend to engage in, and must not have any arrangement or understanding with any person to participate in, a distribution of the Exchange Notes.

If I am a broker-dealer that will receive Exchange Notes for my own account in exchange for Original Notes that were acquired as a result of market-making activities or other trading activities, I acknowledge that I will


deliver the Prospectus in connection with any resale of the Exchange Notes. However, by this acknowledgment and by delivering the Prospectus, I will not be deemed to admit that I am an “underwriter” within the meaning of the Securities Act. I further acknowledge that if I am participating in the Exchange Offer for the purpose of distributing the Exchange Notes, I cannot rely on the position of the staff of the SEC in the Exxon Capital Holdings Corporation Letter or similar letters.

Upon request, I will execute and deliver any additional documents deemed by the exchange agent or the Companies to be necessary or desirable to complete the exchange, assignment and transfer of the Original Notes I have tendered.

I understand that the Companies will be deemed to have accepted validly tendered Original Notes when and if the Companies give written notice of acceptance to the exchange agent and such acceptance will constitute performance in full by the Companies of their obligations under the applicable registration rights agreement, except in the limited circumstances defined in such agreement.

If, for any reason, any tendered Original Notes are not accepted for exchange in the Exchange Offer, the unaccepted Original Notes will be returned without expense to the tendering Holder. Such non-exchanged Original Notes will be credited to an account maintained with DTC. These actions will occur as promptly as practicable after the expiration or termination of the Exchange Offer.

All authority granted or agreed to be granted by this Letter of Transmittal will survive my death, bankruptcy or incapacity, and every obligation under this Letter of Transmittal is binding upon my heirs, legal representatives, successors, assigns, executors, administrators and trustees in bankruptcy.

I understand that tenders of Original Notes according to the procedures described in the Prospectus under the heading “The Exchange Offer—How to Tender” and in the instructions included in this Letter of Transmittal constitute a binding agreement between myself and the Companies subject to the terms and conditions of the Exchange Offer.

 

¨  CHECK HERE IF YOU ARE A BROKER–DEALER AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

 

 Name:

 

 Address:

 

 Name of Tendering Institution:

 

 Account Number:

 

 Transaction Code Number:

 

By crediting the Original Notes to the exchange agent’s account at DTC using ATOP and by complying with applicable ATOP procedures with respect to the Exchange Offer, the participant in DTC confirms on behalf of itself and the beneficial owners of such Original Notes all provisions of this Letter of Transmittal (including all representations and warranties) applicable to it and such beneficial owner.


INSTRUCTIONS FORMING PART OF

THE TERMS AND CONDITIONS OF THE EXCHANGE OFFER

1. BOOK-ENTRY CONFIRMATIONS. Any confirmation of a book-entry transfer to the exchange agent’s account at DTC of Original Notes tendered by book-entry transfer, as well as an agent’s message, and any other documents required by this Letter of Transmittal, must be received by the exchange agent at its address set forth on the cover page of this Letter of Transmittal prior to 9:00 a.m., New York City time, on the Expiration Date.

THE COMPANY WILL NOT ACCEPT ANY ALTERNATIVE, CONDITIONAL OR CONTINGENT TENDERS. EACH TENDERING HOLDER BY DELIVERY OF AN AGENT’S MESSAGE WAIVES ANY RIGHT TO RECEIVE ANY NOTICE OF THE ACCEPTANCE OF SUCH TENDER.

2. VALIDITY OF TENDERS. The Companies have the sole right to decide any questions about the validity, form, eligibility, time of receipt, acceptance or withdrawal of tendered Original Notes, and its decision will be final and binding. The Companies’ interpretation of the terms and conditions of the Exchange Offer, including the instructions contained in this Letter of Transmittal and in the Prospectus, will be final and binding on all parties.

The Companies have the absolute right to reject any or all of the tendered Original Notes if:

 

    the Original Notes are not properly tendered; or

 

    in the opinion of counsel, the acceptance of those Original Notes would be unlawful.

The Companies may also decide to waive any conditions of the Exchange Offer or any defects or irregularities of tenders of Original Notes and accept such Original Notes for exchange whether or not similar defects or irregularities are waived in the case of other Holders. Any defect or irregularity in the tender of Original Notes that is not waived by the Companies must be cured within the period of time set by the Companies.

It is your responsibility to identify and cure any defect or irregularity in the tender of your Original Notes. Your tender of Original Notes will not be considered to have been made until any defect or irregularity is cured or waived. Neither the Companies, the exchange agent nor any other person is required to notify you that your tender was defective or irregular, and no one will be liable for any failure to notify you of such a defect or irregularity in your tender of Original Notes. Tenders of the Original Notes will not be deemed made until such defects or irregularities have been cured or waived. Any Original Notes received by the exchange agent that are not properly tendered and as to which the defects or irregularities have not been cured or waived will be returned to the tendering Holder as soon as practicable after the Expiration Date of the Exchange Offer.

3. PARTIAL TENDERS. Tenders of Original Notes pursuant to the Exchange Offer will be accepted only in principal amounts equal to $2,000 and integral multiples of $1,000. Any untendered Original Notes and any Exchange Notes issued in exchange for tendered and accepted Original Notes will be credited to accounts at DTC.

4. TRANSFER TAXES. The Companies will pay all transfer taxes, if any, applicable to the exchange of Original Notes in the Exchange Offer. However, transfer taxes will be payable by you (or by the tendering Holder if you are delivering this letter on behalf of a tendering Holder) if a transfer tax is imposed for any reason other than the exchange of Original Notes according to the Exchange Offer. If satisfactory evidence of the payment of those taxes or an exemption from payment is not submitted with this Letter of Transmittal or at the time the related agent’s message is delivered, the amount of those transfer taxes will be billed directly to the tendering Holder. Until those transfer taxes are paid, the Companies will not be required to deliver any Exchange Notes required to be delivered to, or at the direction of, such tendering Holder.


Except as provided in this Instruction 4, it is not necessary for transfer tax stamps to be attached to the Original Notes listed in this Letter of Transmittal.

5. WAIVER OF CONDITIONS. The Companies may choose, at any time and for any reason, to waive or, subject to certain requirements, amend or modify certain of the conditions to the Exchange Offer. The conditions applicable to tenders of Original Notes in the Exchange Offer are described in the Prospectus under the heading “The Exchange Offer—Conditions to the Exchange Offer.”

6. WITHDRAWAL RIGHTS. Original Notes tendered pursuant to the Exchange Offer may be withdrawn at any time prior to the Expiration Date. For a withdrawal to be effective, a written letter or facsimile transmission notice of withdrawal must be received by the exchange agent at its address set forth in this Letter of Transmittal not later than 9:00 a.m., New York City time, on the Expiration Date. Any notice of withdrawal must specify the name and number of the account at DTC to be credited with withdrawn Original Notes and otherwise comply with the ATOP procedures. The exchange agent will return properly withdrawn Original Notes promptly following receipt of notice of withdrawal. Properly withdrawn Original Notes may be retendered by following the procedures described in the Prospectus under the heading “The Exchange Offer—Procedures for tendering Original Notes” above at any time on or prior to 9:00 a.m., New York City time, on the Expiration Date. All questions as to the validity of notices of withdrawals, including time of receipt, will be determined by the Companies, and will be final and binding on all parties.

7. REQUESTS FOR ASSISTANCE OR ADDITIONAL COPIES. If you have questions, need assistance or would like to receive additional copies of the Prospectus or this Letter of Transmittal, you should contact the exchange agent at the address listed on the cover page of this document. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offer.

IMPORTANT: BY USING THE ATOP PROCEDURES TO TENDER ORIGINAL NOTES, YOU WILL NOT BE REQUIRED TO DELIVER THIS LETTER OF TRANSMITTAL TO THE EXCHANGE AGENT. HOWEVER, YOU WILL BE BOUND BY ITS TERMS AND CONDITIONS, AND YOU WILL BE DEEMED TO HAVE MADE THE ACKNOWLEDGMENTS AND THE REPRESENTATIONS AND WARRANTIES IT CONTAINS, JUST AS IF YOU HAD SIGNED IT.