Formula 1 to launch up to $200 million add-on term loan on Tuesday

By Sara Rosenberg

New York, July 17 – Formula 1 (Delta Topco Ltd.) will hold a lender call at 10 a.m. ET on Tuesday to launch an up to $200 million add-on first-lien term loan, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used with cash on hand to repay the balance of the company’s $300 million second-lien facility.

The add-on loan is to the company’s existing $3,102,000,000 first-lien term loan.

Additionally, the company plans to amend its credit agreement to increase revolving facility capacity to up to $500 million, a news release added.

Formula 1 is a motorsports business that is a subsidiary of Liberty Media Corp.

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