BREAKING: $NWS inks $1.5B amended 5-year unsecured credit agreement — $1B revolving + $500M Term A to…
Filed with the SEC on · Summarized by InvestorsBot
BREAKING: $NWS inks $1.5B amended 5-year unsecured credit agreement — $1B revolving + $500M Term A to refinance existing facility; borrowed $43.75M today. Maturity 3/27/2031. 🔥💰📄 #Breaking #NewsCorp #Liquidity #DebtMarkets
ALERT: The deal secures 5 years of liquidity for $NWS but includes a 3.5x adjusted operating income net leverage covenant and customary limits on liens, M&A and asset sales — could constrain buybacks/dividends if breached. ⚖️🔒 #Leverage #CorporateFinance #FinTwit
Confirmed: Revolver has $100M LC sublimit, $250M accordion option; Term A amortizes slowly (0%/2.5%/2.5%/5%/5% schedule); interest tied to Term SOFR/Base Rate; revolver re-borrowable. Led by BofA, JPM, Citi. 🧾🔁 $NWS #CreditFacility #Banking #NewsCorp
UPDATE: Aggregate Term A now $500M after the $43.75M borrow; facilities are unsecured; revolver/term maturities can be extended (up to two 1‑yr revolver extensions; term extension at least 1 yr). Full agreement filed as Exhibit 10.1 — watch covenant tracking. ⚠️📈 $NWS #DebtMarkets #FinTwit #CorporateFinance