Liberty Media Corporation Announces Repricing of Formula 1 First Lien Term Loan B
Retrieved on:
Wednesday, October 4, 2023
Liberty Media Corporation (“Liberty”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) announced today the closing of the repricing of the $1,700 million first lien Term Loan B of a subsidiary of Delta Topco Limited, the Liberty subsidiary which holds all of its interests in Formula 1, the iconic global motorsports business.
Key Points:
- Liberty Media Corporation (“Liberty”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) announced today the closing of the repricing of the $1,700 million first lien Term Loan B of a subsidiary of Delta Topco Limited, the Liberty subsidiary which holds all of its interests in Formula 1, the iconic global motorsports business.
- The margin for the Term Loan B has been reduced from 3.00% to 2.25%.
- The maturity for the Term Loan B remains unchanged at January 15, 2030 and the reference rate remains Term SOFR.
- The Term Loan B remains non-recourse to Liberty.