Formula 1 to launch $2.43 billion of term loans on Monday morning

By Sara Rosenberg

New York, Nov. 10 – Formula 1 will hold a lender call at 11 a.m. ET on Monday to launch $2.425 billion of term loans, according to a market source.

Goldman Sachs Bank USA and JPMorgan Chase Bank are the bookrunners on the deal.

The debt consists of a $725 million term loan A and a $1.7 billion term loan B, the source said.

Proceeds will be used with cash on the balance sheet to refinance an existing term loan B due February 2024.

Formula 1 is a media company that is the exclusive commercial rights holder to FIA Formula One World Championship auto racing.

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