TKO Group Holdings, Inc. Refinances Existing Credit Agreement

TKO Group Holdings, Inc. (NYSE: TKO) announced on November 21, 2024, that its subsidiary, UFC Holdings, LLC, entered into the Fifth Refinancing Amendment to the First Lien Credit Agreement. The Credit Agreement Amendment replaced outstanding first lien secured term loans with new first lien secured term loans totaling $2,750.0 million, maturing on November 21, 2031. Additionally, the existing secured revolving credit facility of $205.0 million was refinanced, now maturing on November 21, 2029.

Under the amended Credit Agreement, the New Term Loans will bear interest at a variable rate, either Term SOFR or the ABR plus an applicable margin. The New Revolving Credit Facility loans will also carry variable interest rates based on either Term SOFR or the ABR plus an applicable margin.

Following the Closing Date, the financial covenant related to the New Revolving Credit Facility will be tested against a minimum of $85.0 million or 40% of the borrowing capacity of the facility, excluding any letters of credit. UFC Holdings utilized the New Term Loans to repay the existing Term Loans and cover associated fees and expenses.

It is highlighted that certain parties involved in the Credit Agreement and their affiliates engage, and may continue to engage, in financial advisory roles and transactions with the Company and its affiliates, earning standard fees for these services.

For further details, the complete text of the Credit Agreement Amendment can be referred to in Exhibit 10.1 attached to the Form 8-K filing submitted to the Securities and Exchange Commission.

The details provided under Item 1.01 have been incorporated into Item 2.03 regarding the creation of direct financial obligations or off-balance sheet arrangements. The company has also provided the necessary exhibit filings as required by Section 9.01 of the report.

Schedules and similar attachments have been omitted from the filing, with the company committing to supply supplemental copies upon request by the Securities and Exchange Commission. Andrew Schleimer, the Chief Financial Officer of TKO Group Holdings, Inc., signed the report on behalf of the company on November 21, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read TKO Group’s 8K filing here.

About TKO Group

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.