Moody’s rates Loarre notes Ba3

Moody’s Investors Service said it provisionally rated Loarre Investments Sarl’s planned €850 million of senior secured notes due 2029.

Revenues from 8.2% of audio-visual rights commercialized by La Liga Nacional de Futbol Profesional in respect of matches of the first- and second-tier league competitions of Spanish professional football will back the notes. Additionally, the notes are backed by revenues from non-AV activities such as sponsorships and licenses, infrastructural maintenance and technological solutions.

Loarre will use the proceeds to invest in the league.

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