Formula One owner Liberty Media plans USD 600 million convertible senior notes offering
Convertible notes offering and planned use of proceeds
Formula One Group owner Liberty Media launched a private offering of USD 600 million convertible senior notes.
The deal includes an option for initial purchasers to buy up to an additional USD 90 million of notes within 13 days.
The notes will be senior unsecured obligations, convertible into cash, FWONK shares, or a combination at Liberty Media’s election.
Proceeds are earmarked for capped call transactions tied to its 2.25% convertible senior notes due 2027, working capital, general corporate purposes, and repaying the 2027 notes.
