Getty Images Holdings (GETY) has released an update to notify the public and investors about a regulation fd disclosure.
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Getty Images is launching a strategic refinancing initiative to improve its financial standing by refinancing up to $1.4 billion of its senior secured term loan facilities and to fund the redemption of outstanding senior unsecured notes. The company is also expecting to outperform its financial forecasts for both the fourth quarter and the full fiscal year of 2023, with projected revenues of $219-$229 million for Q4 and $910-$920 million for the year. Additionally, Getty Images is aiming to maintain a Net Debt/Adjusted EBITDA ratio between 2.5x and 3.0x within the next two to three years, while acknowledging that their non-GAAP financial predictions cannot be precisely reconciled with GAAP measures. The financial results are preliminary and subject to change upon the completion of the company’s financial statement audit.
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For a comprehensive understanding of the announcement, you can read the full document here.
