O’Melveny Represents Formula 1 in Connection with Refinancing and Maturity Extension of Formula 1 Debt Facilities
September 20, 2024
FOR IMMEDIATE RELEASE
LOS ANGELES—September 20, 2024—O’Melveny recently represented Delta Topco Limited and its subsidiaries (collectively, “Formula 1”), in connection with the refinancing of its Term Loan B in an aggregate principal amount of US$1.7 billion and the maturity extension of its Term Loan A and revolving credit facility in aggregate principal amounts of approximately US$689 million and US$500 million, respectively.
O’Melveny also represented Formula 1 in connection with the marketing of an incremental US$850 million of Term Loan B funding and the attainment of an incremental US$150 million of commitments to the newly extended Term Loan A (collectively, the “Incremental Term Loans”). The Incremental Term Loans will be used to fund a portion of the acquisition of Dorna Sports, S.L., the exclusive commercial rights holder to the MotoGP™ World Championship (the “Dorna Acquisition”). The funding of the Incremental Term Loans are conditioned upon the scheduled consummation of the Dorna Acquisition which is expected to close by year-end 2024.
Formula 1® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1® is a subsidiary of Liberty Media Corporation, attributed to the Formula One Group tracking stock (NASDAQ: FWONA, FWONK). The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.
The O’Melveny team was led by partner Robert Wann, counsel Adrian Vidaurri, and associate Spencer Crawford with assistance from partners C. Brophy Christensen and Jeeho Lee and counsel Tai Vivatvaraphol.
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Contact:
Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024
bjacobsen@omm.com
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