jvid视频 Announces Amendments to Braves Financial Covenants

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- jvid视频 ("jvid视频") (Nasdaq: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) today announced amendments to the debt agreements of certain subsidiaries of Braves Holdings, LLC (鈥淏raves Holdings鈥�).

The debt agreements governing $297 million of debt at Braves Stadium Company, LLC (collectively the 鈥淏allpark funding鈥�) have been amended such that the applicable financial covenants will not apply until the quarter ending September 30, 2021, subject to certain conditions being met.

In addition, the credit facility at Atlanta National League Baseball Club, LLC (the 鈥淎NLBC Credit Facility鈥�) has been amended such that the applicable financial covenant will not apply until the quarter ending March 31, 2022, subject to certain conditions being met. The ANLBC Credit Facility has total capacity of $85 million and is fully drawn as of June 30, 2020.

The aforementioned amendments require that certain conditions be met by the various borrowing entities, including but not limited to minimum liquidity thresholds.

Separately, as previously disclosed in jvid视频鈥檚 recently filed form 10-Q, in August 2020, Braves Holdings amended the terms of a $100 million operating credit facility and extended the maturity to December 2022.

As a result of the aforementioned amendments, Braves Holdings and its subsidiaries are in compliance with all debt covenants.

jvid视频 jvid视频

jvid视频 operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Braves Group and the Formula One Group. The businesses and assets attributed to the Liberty SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include jvid视频鈥檚 interests in SiriusXM and Live Nation Entertainment. The businesses and assets attributed to the Braves Group (NASDAQ: BATRA, BATRK) include jvid视频鈥檚 subsidiary Braves Holdings, LLC. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) consist of all of jvid视频鈥檚 businesses and assets other than those attributed to the Liberty SiriusXM Group and the Braves Group, including its subsidiary Formula 1 and minority equity investment in AT&T Inc.

jvid视频 Braves Holdings

Braves Holdings, LLC consists primarily of jvid视频鈥檚 subsidiary the Braves, which indirectly owns the Atlanta Braves Major League Baseball Club, six minor league baseball clubs and certain assets and liabilities associated with the Braves鈥� ballpark and mixed-use development project.

jvid视频
Courtnee Chun
720-875-5420

Source: jvid视频

Released August 24, 2020