Edition:
India

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


Monday, 22 Jan 2018 

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​.