January 22, 2018 / 12:38 PM / 7 months ago

BRIEF-Liberty Media Announces Launch Of Process To Refinance Formula 1 First Lien Term Loan

Jan 22 (Reuters) - Liberty Media Corp:

* LIBERTY MEDIA ANNOUNCES LAUNCH OF PROCESS TO REFINANCE FORMULA 1 FIRST LIEN TERM LOAN

* LIBERTY MEDIA - INTENDS TO LAUNCH PROCESS TO REFINANCE $3,302 MILLION FIRST LIEN TERM LOAN OF SOME DELTA TOPCO LTD UNITS

* LIBERTY MEDIA CORP - ‍CONCURRENT WITH REFINANCING, RELEVANT UNITS OF DELTA TOPCO INTEND TO REPAY UP TO $400 MILLION OF FIRST LIEN TERM LOAN​

* LIBERTY MEDIA - ‍CONTEMPLATED REFINANCING TRANSACTION WILL BE NET LEVERAGE NEUTRAL & REFINANCED TERM LOAN WILL REMAIN NON-RECOURSE TO LIBERTY ​

* LIBERTY MEDIA - REPAYMENT OF FIRST LIEN TERM LOAN USING EXCESS CASH ON BALANCE SHEET & LOANS UNDER FIRST LIEN REVOLVING CREDIT FACILITY​ Source text for Eikon: Further company coverage:

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