debt
confidence high
sentiment neutral
materiality 0.65
Getty Images Holdings, Inc. (GETY): debt financing — Getty Images subsidiary issues $540M 11.25% senior secured notes due 2030 to exchange existing term loans
Getty Images Holdings, Inc.
- Issued $539,944,389 in 11.250% Senior Secured Notes due February 21, 2030 under exchange offer for up to $580M of Dollar Fixed Rate Term B-1 Loans.
- Cash interest payable semi-annually on May 1 and November 1, beginning November 1, 2025.
- Notes are senior secured obligations, guaranteed by certain wholly-owned domestic restricted subsidiaries, and secured on a first-priority basis pari passu with existing first lien debt.
- Optional redemption prior to Feb 21, 2027 at make-whole premium; after that at defined redemption prices; change of control put at 101%.
- Covenants limit incurrence of additional debt, dividends, investments, asset sales, and affiliate transactions, subject to customary exceptions.