Formula 1 launches $1.7 billion term loan B at SOFR plus 225-250 bps

By Sara Rosenberg

New York, Sept. 21 – Formula 1 was scheduled to hold a lender call at 11 a.m. ET on Thursday to launch a $1.7 billion term loan B due January 2030 that is talked at SOFR plus 225 basis points to 250 bps with a 0.5% floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months and no amortization, the source said.

Goldman Sachs Bank USA is the left lead on the deal.

Commitments are due at 10 a.m. ET on Wednesday, the source added.

Proceeds will be used to reprice an existing $1.7 billion term loan B due 2030.

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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