February 13, 2017 / 12:20 PM / 5 months ago

BRIEF-Liberty Media launches process to refinance part of Formula 1 debt

1 Min Read

Feb 13 (Reuters) - Liberty Media Corp -

* Liberty Media launches process to refinance portion of Formula 1 debt

* Intends to launch a process to refinance its $3,145 million term loan under syndicated first lien facilities

* syndicated first lien facilities agreement were executed by certain subsidiaries of Delta Topco Limited, Liberty Media subsidiary

* Contemplated transaction will be net leverage neutral and refinanced term loan will remain non-recourse to Liberty Media

* Relevant units of delta Topco intend to repay up to $300 million of term loan using excess cash on balance sheet Source text for Eikon: Further company coverage:

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