Endeavor Group Holdings Inc. has secured a $260 million term loan to help shore up the entertainment company’s business, which has been hammered by the coronavirus pandemic, according to people familiar with the matter.
The borrowing, which will supplement an existing $2.8 billion term loan, will carry an interest rate of just under 11%. JPMorgan Chase & Co. is acting as the lead arranger on the new loan, and credit investor Oaktree Capital Group LLC has agreed to purchase the largest piece, the people said.
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It's too bad that they will have to sell the UFC eventually to get out of debt. The UFC is they only thing they own that's a guaranteed money maker.