Public Event Detail
New $1.645B loans extend Warner Music (NASDAQ: WMG) debt profile
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Event summary
Warner Music Group Corp. (NASDAQ: WMG), through its subsidiary WMG Acquisition Corp., has established new credit facilities totaling $1.645 billion. This includes a $350 million revolving credit facility and a $1.295 billion term loan A facility, both maturing on March 11, 2031. These new agreements, detailed in an 8-K filing, effectively refinance and extend a significant portion of the company's debt profile, tying interest rates to SOFR or an alternate base rate plus margins dependent on issuer credit ratings.