Warner Music increases term loan to $1.01 billion, extends it to 2023

By Angela McDaniels

Tacoma, Wash., Nov. 21 – Warner Music Group Corp. subsidiary WMG Acquisition Corp. increased its term loan by $27.5 million to $1,006,000,000 and extended its maturity on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The maturity date was extended to Nov. 1, 2023, subject, in certain circumstances, to a springing maturity inside the maturity date of some of the borrower’s other outstanding debt.

Credit Suisse AG is the administrative agent.

Also on Monday, WMG redeemed $27.5 million of its 5 5/8% senior secured notes due 2022 at 103% of par plus accrued interest, leaving $247.5 million of the notes outstanding.

Warner Music is a New York-based music company.

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