---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-180175"
form_type: "8-K"
ticker: "EEX"
cik: "0001579214"
company_name: "Emerald Holding, Inc."
filed_at: "2025-08-14T23:59:59+00:00"
generated_at: "2026-05-17T13:10:42.897849+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-180175
- form_type: 8-K
- ticker: EEX
- cik: 0001579214
- company_name: Emerald Holding, Inc.
- filed_at: 2025-08-14T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1579214/000119312525180175/0001193125-25-180175-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1579214/000119312525180175/eex-20250813.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-180175
- JSON: https://secwatch.observer/filing/0001193125-25-180175.json
- Plain text: https://secwatch.observer/filing/0001193125-25-180175.txt

## Key facts
- Debt Financings
  Emerald Holding, Inc. incurred term loan of full refinancing of existing term loans with Bank of America, N.A. at either (a) base rate (greatest of prime rate, federal funds effective rate plus maturing not disclosed.
  - Instrument: term loan
  - Principal: full refinancing of existing term loans
  - Counterparty: Bank of America, N.A.
  - Rate: either (a) base rate (greatest of prime rate, federal funds effective rate plus
  - Maturity: not disclosed
  - Event: incurrence
  source text: Amendment No. 1 reduces the applicable margin with respect to the existing term loans (the “ Existing Term Loans ”) by refinancing in full the Existing Term Loans with new term loans, which will bear interest at a rate equal to, at the Borrower’s opinion, either (a) a base rate equal to the greatest of: (i) the administrative agent’s prime rate, (ii) the federal funds effective rate plus 50 basis points and (iii) one month Term SOFR plus 1.00%, in each case plus 2.25%, with a 25 basis points stepdown for so long as the Borrower achieves a public corporate family rating by Moody’s Investors Service, Inc. (“ Moody’s ”) of at least B1; or (b) Term SOFR plus 3.25%, with a 25 basis points stepdown for so long as the Borrower achieves a public corporate family rating by Moody’s of at least B1.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1579214/000119312525180175/0001193125-25-180175-index.htm

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