Emerald Holding, Inc. Potential Refinancing of Senior Secured Credit Facilities

Emerald Holding, Inc. (NYSE:EEX) has provided an updated company presentation to prospective lenders on January 15, 2025, in connection with a potential refinancing of its existing senior secured credit facilities. The company emphasized that the consummation of any refinancing transaction is subject to definitive agreements and customary closing conditions. This process is also dependent on prevailing market conditions, with no guarantee of the refinancing occurring, and any terms are subject to negotiation. The updated presentation has been furnished as Exhibit 99.1 in a recent SEC filing.

Regulation FD Disclosure:

The information from the January 15th document has been incorporated into Item 2.02 of the Current Report on Form 8-K, which has been included in Item 7.01 for further reference. It’s essential to note that the information furnished should not be considered “filed” under the Securities Exchange Act of 1934, neither is it subject to the liabilities of that section, nor is it integrated by reference into any other filings under the Securities Act of 1933 or the Exchange Act.

Cautionary Note Regarding Forward-Looking Statements:

The disclosure includes forward-looking statements about Emerald and its subsidiaries, addressing various aspects such as operational abilities, business scaling initiatives, economic conditions in respective markets, growth prospects, acquisition strategies, financial guidance, and dividend intentions. While these statements are based on current expectations and management’s estimates, they are inherently uncertain and not guaranteed due to external risks beyond the company’s control. Readers are advised not to overly rely on these forward-looking statements.

Financial Statements and Exhibits:

The company has submitted a presentation (Exhibit 99.1) along with a Cover Page Interactive Data File as required under Form 8-K.

In examining the financial standing, Emerald Holding, Inc. currently considers raising a new $415 million First Lien Term Loan to potentially refinance an existing $409 million First Lien Term Loan, aiming to extend its Revolving credit facility simultaneously. The proposed refinancing is expected to remain leverage-neutral, with secured and total leverage unaltered. This initiative seeks to optimize the company’s financial structure in alignment with potential growth intentions and market considerations.

The company highlights a blend of in-person events, B2B websites, and digital properties across various sectors, showcasing a primarily revenue-driven approach and a customer-centric monetization engine. This diverse portfolio serves as a foundation for continued growth and adaptability within the event organization space.

Emerald’s financial framework is underscored by a healthy balance sheet, strong free cash flow conversion, and strategic capital allocation policies. This prudent financial management signals a commitment to long-term sustainability and value creation for shareholders.

As the financial landscape evolves, Emerald Holding, Inc. appears focused on strategic refinancing, robust operational frameworks, and resilient financial practices to navigate the dynamic market conditions ahead.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Emerald’s 8K filing here.

About Emerald

Emerald Holding, Inc operates business-to-business (B2B) trade shows in the United States. The company provides B2B trade show franchises; and B2B print publications and digital media products, which provide industry specific business news and information across various sectors. It also offers B2B e-commerce and digital merchandising solutions to manufacturers and retailers through Elastic Suite and Bulletin platforms.