StubHub to launch $1 billion, €452 million term loans on Tuesday

By Sara Rosenberg

New York, March 4 – StubHub Holdings Inc. (StubHub Holdco Sub LLC) is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a $1 billion senior secured term loan B due March 2030 and a €452 million senior secured term loan B due March 2030, according to a market source.

JPMorgan Chase Bank is the left lead and the administrative agent on the deal.

Price talk on the U.S. term loan is SOFR plus 500 basis points with a 0% floor and an original issue discount of 98 to 98.5, and talk on the euro term loan is Euribor plus 500 bps with a 0% floor and a discount of 98 to 98.5, the source said.

The term loans have 101 soft call protection for six months and no margin steps.

Commitments for the U.S. term loan are due at 5 p.m. ET on March 11, and commitments for the euro term loan are due at 7 a.m. ET on March 12, the source added.

Proceeds will be used to amend and extend a portion of the company’s existing $1.632 billion term loan B due February 2027 priced at SOFR plus 350 bps and $321 million term loan B-2 due February 2027 priced at SOFR plus 425 bps, and to extend in full a €452 million term loan B due February 2027 priced at Euribor plus 350 bps.

StubHub is a Wilmington, Del.-based ticketing marketplace for live events.

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