Mood Media Inks Terms of Comprehensive Prepackaged Financial Restructuring Plan

Mood Media, the world´s on-premise and connected media solutions company dedicated to elevating the Customer Experience, has announced that it has entered into a comprehensive Restructuring Support Agreement (the “RSA”) with certain of its lenders, noteholders and equity sponsors on the terms of a “prepackaged” financial restructuring plan that will reduce the Company´s debt by USD 404 million, thereby providing financial flexibility and positioning the Company for long-term success, the company said.

Currently, more than 90% of the Company´s first lien term loan lenders, more than 70% of its second lien PIK noteholders, and over 60% of the Company´s equity sponsors have signed up to the RSA.

The Company will continue operating throughout the contemplated court-supervised process with a primary focus on the health and safety of its employees, independent affiliates and clients. Mood Media intends to build on its structure, support and resources to continue serving its clients as they manage through the global COVID-19 pandemic and over the longer-term once the pandemic has passed.

In connection with the expected court-supervised process, the Company has received a commitment for up to approximately USD 240 million in new financing, including USD 40 million of new capital, from HPS Investment Partners, LLC and other first lien term loan lenders. The new financing will be subject to Court approval and, together with cash generated from the Company´s ongoing operations, is expected to provide ample liquidity for the Company to continue operating in the ordinary course during and after the contemplated court-supervised process.

Subject to Court approval, the Company intends to pay vendors, suppliers and independent affiliates for goods and services provided prior to the expected filing date in the ordinary course of business. Pursuant to the terms of the financial restructuring plan, which will also be subject to Court approval, vendors´, suppliers´ and independent affiliates´ prepetition claims will be unimpaired. The Company also intends to pay vendors, suppliers and independent affiliates under normal terms for goods and services provided on or after the expected filing date.

Kirkland & Ellis LLP is acting as legal advisor to Mood Media, PJ Solomon is acting as its investment banker, and Berkeley Research Group, LLC is acting as its financial advisor.

Mood Media is an on-premise and connected media solutions company dedicated to elevating the Customer Experience. For more details: www.moodmedia.com.