Warner Music Group (WMG) has released an update to notify the public and investors about an entry into a material definitive agreement.
WMG Acquisition Corp., a Warner Music Group subsidiary, amended its senior secured term loan facility credit agreement, extending the maturity of its outstanding term loans from January 20, 2028, to January 24, 2031. This amendment involves issuing new tranche I term loans and refinancing existing tranche G term loans with interest options based on Term SOFR plus a margin or the highest of several base rate options plus a margin.
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