Liberty Media (FWONA, FWONK) said late Wednesday that its subsidiary, MotoGP Sports Entertainment Group, closed the repricing of its first lien term loan B, term loan A, and revolving credit facility.
MotoGP repriced the previous 800 million euro ($920.2 million) term loan B due Aug. 18, 2032 with a new 720 million euro term loan B due Aug. 18, 2032; the previous $231 million term loan A due Aug. 18, 2030 with a new $209 million term loan A due Aug. 18, 2030; and the previous 100 million euro multi-currency revolving credit facility due Aug. 18, 2030 with a new 100 million euro multi-currency revolving credit facility due Aug. 18, 2030, the company said.
The net reduction of about $114 million under the debt facilities was funded with cash from MotoGP's balance sheet, the company added.
The term loan B, the term loan A, and the revolving credit facility remain non-recourse to Liberty.