WMG completes refinancing for lower interest payments

Tom Pakinkis

Warner Music Group has successfully completed a refinancing process that will substantially reduce the company’s interest payments. 

Billboard estimates that the company’s interest payments will reduce by around $43 million annually. WMG is also making partial principal repayments and has negotiated more flexibility to raise funds if necessary.

Warner Music Group secured a $600 million senior secured term loan, maturing on November 1 2018, with annual interest payments of 5.25%. 

The record company also issued $500 million in senior secured ...

Login to access this article

To access this article you need to be a subscriber. If you are a subscriber login below.

Start free Trial

Register for a Music Week trial to access this article. Sign up today and you will receive:

  • 4 weeks access to news, features and chart analysis
  • 4 Digital issues of Music Week
  • The Music Week app
  • Tailored email news alerts
Start your free trial

Subscribe

If you have previously taken a trial you will need to subscribe to access this article.

Subscribe Now
subscribe link free-trial link

follow us...