Getty Images Holdings, Inc. to Amend Its Existing Senior Secured Credit Facilities to Refinance Its Existing Term Loan Facilities
February 07, 2024 at 07:46 am EST
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Getty Images Holdings, Inc. and its wholly owned subsidiary Getty Images, Inc. launched a process to refinance Getty Images' outstanding senior secured term loan facilities, scheduled to mature on
February 19, 2026. As part of this effort, Getty Images will seek to amend its existing senior secured credit facilities to refinance its existing term loan facilities with the dollar equivalent of up to $1.4 billion of replacement term loan term facilities. The strategic refinancing is intended to optimize interest expense resulting in improved cash flow, improve key covenant terms, extend term loan maturities and fund the redemption of the Getty Images? outstanding senior unsecured notes due March 1, 2027.
Getty Images Holdings, Inc. is a global visual content creator and marketplace company. The Company offers a full range of content solutions to meet the needs of any customer around the globe. Through its Getty Images, iStock and Unsplash brands, websites and application programming interfaces (APIs), the Company serves customers and discovers, purchases and shares visual content from photographers and videographers. The Company covers approximately 160,000 news, sport and entertainment events providing depth and breadth of coverage. The Company also maintains photographic archives in the world with millions of images dating back to the beginning of photography. It works with approximately 557,000 contributors and more than 320 content partners to deliver a range of content. Its Getty Images, iStock, and Unsplash brands categorize its content and services into three categories: Creative, Editorial, and Other. Its Gettyimages.com offers premium creative content and editorial coverage.
GETTY IMAGES HOLDINGS, INC. 
