Liberty Media Liberty Formula One ( (FWONA) ) has shared an update.
Liberty Media Corporation has successfully completed the refinancing of Formula 1’s Term Loan B and extended the maturity of its Term Loan A and revolving credit facility. The refinancing effort has reduced the margin on the Term Loan B, with further reductions possible dependent on Formula 1’s leverage ratio. The refinancing includes an additional $850 million Term Loan B and $150 million in commitments to the Term Loan A to support the acquisition of Dorna Sports, S.L. This strategic financial maneuvering is aimed at securing all necessary funds for the anticipated Dorna Acquisition, expected to close by the end of 2024.
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