Getty Images Holdings, Inc. (GETY): debt financing — Getty Images upsizes revolver to $150M, extends maturity to 2028

Getty Images Holdings, Inc.

Revolving credit facility increased from $80M to $150M; maturity extended to May 4, 2028.
Interest initially at Term SOFR + 4.00% or Base Rate + 3.00%, subject to leverage-based margin adjustments.
Seven lenders provide commitments, led by JPMorgan ($30M); includes Goldman Sachs, Bank of America, Citibank, U.S. Bank, Credit Suisse, Northern Trust.
Existing revolving loans prepaid and prior commitments terminated upon effectiveness.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Getty Images Holdings, Inc. amended revolving credit of $80 million to $150 million with J.P. Morgan Chase Bank N.A. at Term SOFR plus a margin of 4.00% or the Base Rate plus a margin of 3.00% maturing May 4, 2028.

Instrument: revolving credit
Principal: $80 million to $150 million
Counterparty: J.P. Morgan Chase Bank N.A.
Rate: Term SOFR plus a margin of 4.00% or the Base Rate plus a margin of 3.00%
Maturity: May 4, 2028
Event: amendment

Exact text from the filing

amended their existing senior secured credit facility with J.P. Morgan Chase Bank N.A., as administrative agent, and the other loan parties party thereto, to, among other things, (i) upsize the total amount of commitments under the revolving credit facility capacity from $80 million to $150 million and (ii) extend the maturity of the revolving credit facility until May 4, 2028

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

Getty Images Holdings, Inc. amended amendment to the senior secured credit facility with J.P. Morgan Chase Bank N.A., as administrative agent, and the other loan parties party thereto valued at $150 million (effective 2023-05-04).

Action: amendment
Agreement: credit facility
Counterparty: J.P. Morgan Chase Bank N.A., as administrative agent, and the other loan parties party thereto
Value: $150 million
Effective: 2023-05-04

Exact text from the filing

On May 4, 2023, Abe Investment Holdings, Inc. and Getty Images, Inc. (the “Getty Borrower”), which are subsidiaries of Getty Images Holdings, Inc., amended their existing senior secured credit facility with J.P. Morgan Chase Bank N.A., as administrative agent, and the other loan parties party thereto, to, among other things, (i) upsize the total amount of commitments under the revolving credit facility capacity from $80 million to $150 million and (ii) extend the maturity of the revolving credit facility until May 4, 2028

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Source: SEC EDGAR

accession 0001104659-23-058034

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