debt
confidence high
sentiment neutral
materiality 0.55
Emerald X (EEX) enters $515M term loan and $110M revolver to refinance existing debt
Emerald Holding, Inc.
- $515M senior secured term loan due Jan 2032; $110M revolver due Jan 2030.
- Proceeds used to refinance existing loans; remainder for general purposes and acquisitions.
- Term loan interest at base rate +2.75% or Term SOFR +3.75%; revolver at base +1.25% or SOFR +2.25%.
- Revolver includes financial covenant: total first lien net leverage ratio ≤5.50x, tested only when drawn above 35%.