Liberty Media renegotiates a clause around its financial loan

In a difficult economic period for companies facing the consequences of the coronavirus pandemic, Liberty Media announced the renegotiation of the conditions of its main financial loan, amounting to 2,9 billion dollars (2,58 billion €).

The new agreement relates more specifically to the clause concerning net debt which, according to the negotiated amendment, will not apply before January 1, 2022 “subject to compliance with certain conditions by the F1 ». Enough to offer greater financial flexibility as explained by Chase Carey, boss of F1.

“The conditions applicable to F1 include maintaining a minimum liquidity of $200 million and certain restrictions on dividends, other payments and the incurrence of additional debt, the statement continues. F1 retains the ability, in accordance with the amendment, to recommence the requirement to comply with the debt clause before January 1, 2022 and, in this case, the additional conditions will cease to apply. »