Formula 1 firms $1.7 billion term loan B at SOFR plus 225 bps

By Sara Rosenberg

New York, Sept. 27 – Formula 1 finalized pricing on its $1.7 billion term loan B due January 2030 at SOFR plus 225 basis points, the low end of the SOFR plus 225 bps to 250 bps talk, according to a market source.

The term loan still has a 0.5% floor, a par issue price and 101 soft call protection for six months.

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

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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