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Emerald Holding, Inc. (NYSE:EEX), which carries total debt of $515.4 million and maintains a healthy EBITDA of $116.4 million, announced Wednesday that its wholly owned subsidiary, Emerald X, Inc., has entered into an amendment to its senior secured credit facilities. The amendment, dated August 13, 2025, refinances the existing term loans with new term loans at reduced interest rates. According to InvestingPro data, the company’s current ratio of 1.05 indicates adequate liquidity to manage its debt obligations.
Under the terms of the amendment, the new term loans will bear interest at either a base rate or Term SOFR, each with a margin that is 25 basis points lower if the borrower achieves a public corporate family rating of at least B1 from Moody’s Investors Service, Inc. The applicable interest rates are as follows:
- If using the base rate: the greater of the administrative agent’s prime rate, the federal funds effective rate plus 0.50%, or one-month Term SOFR plus 1.00%, plus 2.25%. This margin is reduced by 0.25% if the Moody’s rating condition is met.
- If using Term SOFR: Term SOFR plus 3.25%, with a 0.25% reduction if the Moody’s rating condition is met.
Bank of America, N.A. acts as administrative agent and refinancing term lender. The amendment was entered into by Emerald X, Inc., Expo Event Midco, Inc., the guarantors party to the agreement, the lenders, and Bank of America.
The company stated that other terms of the senior secured credit facilities remain unchanged, and the summary is qualified in its entirety by reference to the full amendment document.
This information is based on a statement provided in an SEC filing.
In other recent news, Emerald Holding reported its second-quarter 2025 earnings, which showed a mixed performance. The company missed earnings per share (EPS) forecasts, posting an EPS of -$0.01 compared to the expected $0.01. This resulted in a negative surprise of 200%. However, Emerald exceeded revenue expectations, reporting $105.5 million against the anticipated $100.2 million, marking a 5.29% positive surprise. In another development, Emerald Holding announced the acquisition of Toronto-based Generis Group, a B2B executive summit organizer. This acquisition grants Emerald full ownership of Generis, allowing the company to host over 50 executive summits annually across the U.S. and Europe. These recent developments highlight significant changes in Emerald’s business operations and financial performance.
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