Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Warner Music Group Corp. incurred credit facility of up to $500 million with The Bank of New York Mellon at Term SOFR for the interest accrual period plus the applicable margin of 2.00%.
- Instrument
- credit facility
- Principal
- up to $500 million
- Counterparty
- The Bank of New York Mellon
- Rate
- Term SOFR for the interest accrual period plus the applicable margin of 2.00%
- Event
- incurrence
Exact text from the filing
reto (the “Conduit Lenders”), each of the financial institutions from time to time party thereto as committed lenders (the “Committed Lenders” and, together with the Conduit Lenders, the “Lenders”), the conduit managing agents from time to time party thereto, The Bank of New York Mellon, as administrative agent for the Lenders, and The Bank of New York Mellon, as collateral agent for the Secured Parties (as defined inthe Credit Agreement), entered into a Credit and Security Agreement (the “Credit Agreement”) pursuant to which the Lenders have agreed to extend up to $500 million in commitment amounts to the Borrowers, the proceeds of which will be used to acquire, or refinance the acquisition of, Music Products (as defined in the Credit Agreement) and related assets.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Warner Music Group Corp. announced a restructuring with charges of approximately $200 million on a pre-tax basis or approximately $150 million on an after-tax basis.
- Type
- restructuring
- Charge
- approximately $200 million on a pre-tax basis or approximately $150 million on an after-tax basis
Exact text from the filing
The Company expects to incur total non-recurring charges of approximately $200 million on a pre-tax basis or approximately $150 million on an after-tax basis.
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