WMG subsidiary reprices $1.295B term loans; new Tranche J at SOFR+1.75%

Warner Music Group Corp.

WMG Acquisition Corp. issued $1.295B in Tranche J term loans to replace existing Tranche I term loans.
Interest rate: Term SOFR plus 1.75% per annum (or base rate plus 1.00%), with a 0% floor for SOFR.
Proceeds used to repay Tranche I loans in full and pay transaction fees and expenses.
Refinancing effective September 17, 2024; JPMorgan Chase acted as Tranche J term lender and administrative agent.
Amendment involves multiple guarantor subsidiaries and reaffirms existing security agreements.

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