StubHub extends term loan maturities to Oct 2033, cuts borrowing costs 25bp

StubHub Holdings, Inc.

Amendment No. 7 to the Feb 2020 credit agreement extends the $804M USD Term Loan B and €452M Euro Term Loan B by 3.5 years, from March 2030 to October 2033.
USD Term Loan B increased by $171M to $975M; Euro Term Loan B cut by €152M to €300M, leaving total Term Loans unchanged and improving FX risk profile.
New margins: SOFR+450bp on USD TLB, EURIBOR+475bp on Euro TLB, 350bp on revolver, with step-downs to 325bp/300bp at 2.00x/1.50x leverage.
$565M revolver: $140M matures Sept 2030, $425M extended one year to Oct 2031; includes $120M letter-of-credit and $60M swingline sublimits.
StubHub says it has repaid $1.1B of debt in the prior twelve months; Moody's upgraded its Corporate Family Rating to B2 from B3 in September.

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