TKO Group Holdings, Inc. 8-K

What Happened

• On March 10, 2026 TKO Worldwide Holdings, LLC (an indirect subsidiary of TKO Group Holdings, Inc.) entered into the Fourteenth Amendment to its First Lien Credit Agreement (administered by Goldman Sachs Bank USA). The amendment (the “Credit Agreement Amendment”) adds a $900.0 million incremental first‑lien term loan and upsizes the revolving credit facility to $350.0 million.
• TKO Holdings borrowed the full $900.0 million on the Closing Date. Proceeds are intended for general corporate purposes — including funding share repurchases under the company’s previously announced repurchase program (ASR and 10b5-1 plans) — and to pay fees and transaction costs.

Key Details

• Incremental Term Loan: $900.0 million borrowed in full on March 10, 2026; amortizes at 1.0% per year; matures November 21, 2031.
• Upsized Revolving Credit Facility: capacity increased to $350.0 million; facility maturity date September 15, 2030.
• Interest terms: Incremental term loan — either Term SOFR + 2.00% (SOFR floor 0.00%) or ABR + 1.00% (ABR floor 1.00%), at TKO’s option. Revolving loans — Term SOFR + 1.50%–1.75% (floor 0.00%) or ABR + 0.50%–0.75% (ABR floor 1.00%), margins vary with leverage.
• Administrative agent and lenders: Goldman Sachs Bank USA and the lenders party to the Existing Credit Agreement; certain lenders/affiliates have ongoing commercial and advisory relationships with TKO.

Why It Matters

• The amendment increases TKO’s available liquidity and adds $900M of first‑lien debt, which can be used immediately (notably to support share repurchases). That increases near‑term cash resources but also raises interest expense and secured indebtedness.
• Key investor considerations are the additional leverage, the interest‑rate exposure (SOFR vs. ABR options and floors), and the maturities (2030 revolver, 2031 term loan). These facts affect cash‑flow needs and financing costs; management has disclosed the uses and included standard forward‑looking disclaimers.