Formula 1 closes $1.7B Term Loan B refinancing, secures $1B incremental funding for MotoGP acquisition

Liberty Media Corp

Refinanced $1.7B Term Loan B (due 2030) into new one due 2031; extended $689M Term Loan A and $500M revolver from 2028 to 2029.
Margin on Term Loan B cut to 2.00% (from 2.25%), with potential step-down to 1.75% if net leverage <=3.75x post-Dorna.
Secured $850M incremental Term Loan B and $150M incremental Term Loan A to fund Dorna acquisition; funding contingent on deal close.
Dorna acquisition of MotoGP rights expected close by year-end 2024; all necessary debt funding now arranged.
All debt non-recourse to Liberty Media; attributed to Formula One Group tracking stock.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.