Falcon’s Beyond Global Enters into Amended and Restated Credit Agreement and Katmandu Loan Agreement

On October 18, 2024, Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) announced two significant financial agreements. The first deal involves an Amended and Restated Credit Agreement between the Company and its subsidiary, Falcon’s Beyond Global, LLC, with Infinite Acquisitions Partners LLC. This agreement, effective as of September 30, 2024, replaces a Prior Credit Agreement and provides a ten-year revolving line of credit of up to $15 million. Currently, around $8 million has been borrowed under this agreement, bearing simple interest at a rate tied to the three-month Secured Overnight Financing Rate (SOFR) plus 2.75% annually, maturing on September 30, 2034.

Concurrently, on the same date, Falcon’s Beyond Global, Inc. entered into a loan agreement through its subsidiary Katmandu Group, LLC, with Infinite. This Katmandu Loan Agreement supersedes and terminates the Prior Katmandu Loans. The loan amount under this agreement is $14,764,768.81, carrying an 8% annual interest rate and maturing on September 30, 2034. The agreement includes affirmative covenants ensuring compliance with anti-corruption and anti-money laundering laws and maintenance of legal status, along with a negative covenant restricting consolidation, merger, or the transfer of assets under certain conditions.

Both the Amended and Restated Credit Agreement and the Katmandu Loan Agreement are captured in SEC filings with detailed provisions and terms. The Company emphasizes that the descriptions provided are not exhaustive and directs interested parties to the full agreements included as exhibits in the official filing.

This financial move by Falcon’s Beyond Global signifies a strategic step to manage its financial obligations efficiently and secure essential funding for its operations. With these agreements in place, Falcon’s Beyond Global aims to strengthen its financial position and drive sustained growth in the future.

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

About Falcon’s Beyond Global

Falcon's Beyond Global, Inc operates as an entertainment company in the United States, Saudi Arabia, Caribbean, Hong Kong, and internationally. The company creates master plans; designs attractions and experiential entertainment; and produces content, interactives, and software, as well as engages in media and audio production, project management, experiential technologies, and attraction hardware development, procurement, and sales.