Liberty Media's MotoGP unit reprices debt, cuts principal by $114M

Liberty Media Corporation (Nasdaq: FWONA, FWONK) announced that its subsidiary MotoGP Sports Entertainment Group, S.L. closed a repricing of its debt facilities on June 17, 2026.

As part of the transaction, MotoGP replaced its previous €800 million Term Loan B with a new €720 million Term Loan B, both maturing August 18, 2032. The previous $231 million Term Loan A was replaced with a new $209 million Term Loan A, and the €100 million multicurrency revolving credit facility was repriced with no change to its principal amount. Both the Term Loan A and the revolving credit facility mature August 18, 2030.

The net reduction of approximately $114 million equivalent across the debt facilities was funded with cash from MotoGP's balance sheet. Pro forma for the transactions, and based on MotoGP's balance sheet as of March 31, 2026, MotoGP holds approximately $72 million in cash and liquid investments with a total principal debt amount of $1,037 million. Its net senior secured leverage ratio stands at 4.6x.

The margin on the Term Loan B was reduced from 2.50% to 2.25%, with a new range of 2.00% to 2.25% tied to MotoGP's consolidated net senior secured leverage ratio, using EURIBOR as the reference rate. The margin on the Term Loan A remains at 1.50%, with a new range of 1.25% to 1.50%, referencing Term SOFR. The revolving credit facility margin is unchanged at 2.00%, with a new range of 1.50% to 2.00%, referencing Term SOFR, SONIA, or EURIBOR depending on the borrowing currency.

All three facilities remain non-recourse to Liberty Media.

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