Emerald extends term loan maturity to 2026; rate jumps to SOFR+5%+0.10%

Emerald Holding, Inc.

Maturity extended from May 2024 to May 2026 on ~$415M term loan.
Interest rate increased to SOFR+5.00%+0.10% (or ABR+4%) from LIBOR+2.50%-2.75%.
Prepayment premium: 2% within 12 months, 1% between 12-18 months.
Quarterly amortization reset to 0.25% of original principal (~$1.04M/quarter).
No changes to revolver borrowing terms or principal amount.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Emerald Holding, Inc. amended Sixth Amendment to Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and the lenders party thereto valued at approximately $415 million (effective 2023-06-12).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, and the lenders party thereto
Value: approximately $415 million
Effective: 2023-06-12

Exact text from the filing

On June 12, 2023 (the “ Effective Date ”), Emerald X, Inc. (the “ Borrower ”), a wholly-owned subsidiary of Emerald Holding, Inc. (the “ Company ”), entered into a Sixth Amendment to Amended and Restated Credit Agreement (the “ Amendment ”), by and among the Borrower, the guarantors party thereto, the lenders party thereto and Bank of America, N.A., as administrative agent

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Emerald Holding, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-028093

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