---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-101538"
form_type: "8-K"
ticker: "FWONA"
cik: "0001560385"
company_name: "Liberty Media Corp"
filed_at: "2024-09-20T23:59:59+00:00"
generated_at: "2026-05-31T02:47:53.914269+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-101538
- form_type: 8-K
- ticker: FWONA
- cik: 0001560385
- company_name: Liberty Media Corp
- filed_at: 2024-09-20T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560385/000110465924101538/0001104659-24-101538-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560385/000110465924101538/tm2424432d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-101538
- JSON: https://secwatch.observer/filing/0001104659-24-101538.json
- Plain text: https://secwatch.observer/filing/0001104659-24-101538.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.