Simpson Thacher represented Goldman Sachs Bank USA, as lead arranger, and J.P. Morgan SE, as facility agent, in connection with Formula One Group’s upsizing of its existing term loan facilities by $1.0 billion, comprising an $850 million incremental Term Loan B and $150 million incremental Term Loan A. The borrowings under the incremental term loans were used, together with cash at Liberty Media Corporation (“Liberty Media”), to finance the acquisition of Dorna Sports, S.L., the exclusive commercial rights holder of MotoGP by Liberty Media.
The Simpson Thacher team included Patrick Ryan, Jackie Song, Austin Vance, Mark Marzziotti, Roey Vardi and Colin Manchester (Banking and Credit); Antti Pesonen, Marc van Heerden and Alessio D’Alessandro (Banking and Credit – London); and Michael Mann and Ruoxi Zhang (Tax).