Emerald X refinances $515M term loans with lower interest margins; 25bps stepdown possible

Emerald Holding, Inc.

New term loans bear Base+2.25% or Term SOFR+3.25%, down from prior margin; additional 25bps cut if Moody's rating B1 or better.
Aggregate principal $515M; Bank of America funds $94,224.05 in cash; remaining converted from existing loans via cashless settlement.
Amendment effective August 13, 2025; prepayment restriction period reset to six months from this date.
Joint lead arrangers include Bank of America, Goldman Sachs, Barclays, RBC, Deutsche Bank, and Citibank.

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