StubHub extends term-loan maturities to October 2033
Revolving-facility margins can step down to 3.25% and 3.00% at leverage-ratio thresholds of 2.00x and 1.50x, respectively.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
StubHub Holdings, Inc. amended its senior credit agreement, increasing its USD Term Loan B from approximately $804 million to approximately $975 million, reducing its Euro Term Loan B from approximately €452 million to approximately €300 million, and extending both maturities from March 15, 2030 to October 14, 2033. The company said the total amount under the Term Loans remains unchanged. The agreement provides a $565 million Revolving Credit Facility, with $140 million scheduled to mature September 30, 2030 and $425 million scheduled to mature October 14, 2031.
The extended USD and Euro term loans bear interest at SOFR plus 4.50% and EURIBOR plus 4.75%, respectively; StubHub said the transaction improved borrowing costs by 25 basis points. The Revolving Credit Facility margin is 3.50%, with leverage-based step-downs. Its $120 million letter of credit sublimit and $60 million swingline loan sublimit are part of, not in addition to, the facility. StubHub reported repaying $1.1 billion of debt over the prior twelve months, and Moody’s Ratings upgraded its Corporate Family Rating to B2 from B3.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Major pointStubHub reported $1.1 billion of debt repaid over the prior twelve months. 49% of market cap
- Moderate pointMoody’s Ratings upgraded StubHub’s Corporate Family Rating to B2 from B3.
Negative
- None.
Insights
Analyzing...
8-K Event Classification
Key Figures
Key Terms
Term Loan B financial
Revolving Credit Facility financial
SOFR financial
EURIBOR financial
Consolidated First Lien Secured Leverage Ratio financial
swingline loan sublimit financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are the new StubHub (STUB) term-loan amounts and maturity date?
What are StubHub’s (STUB) borrowing margins under the amended credit agreement?
What are the letter of credit and swingline sublimits in StubHub’s (STUB) revolving facility?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
On October 14, 2026, StubHub Holdings, Inc. (the “Company”) and its subsidiary StubHub Holdco Sub, LLC entered into Amendment No. 7 to Credit Agreement, dated as of October 14, 2026 (the “Amendment”), which amends the Credit Agreement dated as of February 13, 2020 (as amended pursuant to that certain Incremental Facility Amendment No. 1, dated as of August 24, 2020, that certain Refinancing Amendment No. 2 to Credit Agreement, dated as of July 26, 2021, that certain Amendment No. 3 to Credit Agreement, dated as of March 13, 2023, that certain Amendment No. 4 to Credit Agreement, dated as of March 15, 2024, that certain Amendment No. 5 to Credit Agreement, dated as of June 27, 2024 and that certain Amendment No. 6 to Credit Agreement, dated as of November 26, 2024, the “Credit Agreement” and, as amended by the Amendment, the “Amended Credit Agreement”), with JPMorgan Chase Bank, N.A., U.S. administrative agent, J.P. Morgan SE, as non-U.S.as administrative agent, and the other financial institutions party thereto.
Pursuant to the Amendment, the Company increased its USD Term Loan B from approximately $804 million to approximately $975 million and reduced its Euro Term Loan B from approximately €452 million to approximately €300 million, and extended the maturity date of the USD Term Loan B and the Euro Term Loan B from March 15, 2030 to October 14, 2033. The Amended Credit Agreement also provides for a $565 million Revolving Credit Facility, of which $140 million remains scheduled to mature on September 30, 2030 and $425 million is now scheduled to mature on October 14, 2031. The Amended Credit Agreement includes (i) a $120 million letter of credit sublimit and (ii) a $60 million swingline loan sublimit; each of these sublimits are part of, and not in addition to, the amounts available under the Revolving Credit Facility.
Borrowings under the Amended Credit Agreement bear interest at (i) if in U.S. Dollars, the applicable secured overnight financing rate (“SOFR”) plus a margin or (ii) if in Euros, the applicable euro interbank offered rate (“EURIBOR”) plus a margin. The margin for the USD Term Loan B is 4.50%, for the Euro Term Loan B is 4.75% and for the Revolving Credit Facility is 3.50%, subject to step-downs to 3.25% and 3.00% based on a Consolidated First Lien Secured Leverage Ratio (as defined in the Amended Credit Agreement) of 2.00x and 1.50x, respectively.
The Amended Credit Agreement includes certain customary representations and warranties by the Company and imposes certain customary covenants on the Company. The Amended Credit Agreement contains certain customary events of default, and if an event of default occurs and continues, the Company is subject to certain actions by the administrative agent, including, without limitation, the acceleration of repayment of all amounts outstanding under the Amended Credit Agreement.
Certain parties to the Amended Credit Agreement and/or their affiliates have provided and in the future may provide investment banking, commercial banking and/or advisory services to the Company for which they receive customary fees and expenses.
The foregoing summary does not purport to be a complete description of the Amended Credit Agreement and is qualified in its entirety by the contents of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.
The representations, warranties and covenants contained in the Amended Credit Agreement were made as of a specified date, may be subject to a contractual standard of materiality different from what might be viewed as material to investors, or may have been used for the purpose of allocating risk among the parties thereto. Accordingly, the representations and warranties in the Amended Credit Agreement are not necessarily characterizations of the actual state of facts of the Company at the time they were made or otherwise and should be read only in conjunction with the other information that the Company makes publicly available in reports, statements and other documents filed with the Securities and Exchange Commission. Investors are not third-party beneficiaries of, and should not rely upon, such representations, warranties and covenants.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
On October 14, 2026, the Company issued a press release announcing the extension of its senior credit facilities. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. The information in this Item 7.01 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Amendment No. 7 to the Credit Agreement, dated October 14, 2026, by and among StubHub Holdco Sub, LLC, StubHub Holdings, Inc., JPMorgan Chase Bank, N.A., J.P, Morgan SE, each Lender party thereto, the L/C Issuer and the Swing Line Lender* | |
| 99.1 | Press Release, dated October 14, 2026 | |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | |
| * | Certain of the exhibits and schedules to this Exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5). The Registrant agrees to furnish supplementally a copy of all omitted exhibits and schedules to the Securities and Exchange Commission upon its request. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| STUBHUB HOLDINGS, INC. | ||||||
| Date: October 14, 2026 | By: | /s/ Connie James | ||||
| Connie James | ||||||
| Chief Financial Officer | ||||||
Exhibit 99.1
StubHub Announces Extension of Senior Credit Facilities
Extends US Dollar and Euro Term Loan B Maturities to October 2033 and Revolving Credit Facility to October 2031
Reduces Borrowing Costs on Term Loans by 25 Basis Points
Strengthens Foreign Exchange Risk Profile
NEW YORK, NY – October 14, 2026 – StubHub Holdings, Inc. (NYSE: STUB), a leading global ticketing marketplace for live events, today announced it has extended the maturities of its senior credit facilities, further strengthening the company’s balance sheet and extending its capital structure runway.
StubHub, through its wholly owned subsidiary StubHub Holdco Sub, LLC, amended its existing credit agreement to extend the maturity of its $804 million USD Term Loan B and its €452 million Euro Term Loan B (collectively, the “Term Loans”) by 3.5 years from March 2030 to October 2033. As part of the transaction, the company increased the USD Term Loan B by $171 million and reduced the Euro Term Loan B by €152 million, thereby strengthening its foreign exchange risk profile. As a result, the amended credit agreement now consists of a $975 million USD Term Loan B and a €300 million Euro Term Loan B. The total amount under the Term Loans remains unchanged.
The transaction brought a 25-basis point improvement in borrowing costs with the extended USD Term Loan B bearing interest at SOFR plus 450 basis points and the extended Euro Term Loan B bearing interest at EURIBOR plus 475 basis points.
The company also extended the maturity of a portion of its existing Revolving Credit Facility by one year from September 2030 to October 2031, subject to the terms of the amendment.
The transaction follows a period of significant deleveraging for StubHub since its September 2025 initial public offering. The company has repaid $1.1 billion of debt over the prior twelve months. In September, Moody’s Ratings upgraded the Corporate Family Rating of StubHub to B2 from B3.
JPMorgan Chase Bank, N.A. served as Lead Left Arranger and Administrative Agent on the transaction.
About StubHub
StubHub is a leading global ticketing marketplace for live events. Through StubHub and its international brand viagogo, the company services customers in over 200 countries and territories, supporting over 30 languages and accepting payments in over 45 currencies – from sports to music, comedy to dance, festivals to theater. StubHub offers a safe and convenient way to buy or sell tickets to live events across the world for memorable live experiences.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from expectations, and reported results should not be considered as an indication of future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or similar expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, and you should not rely on these as predictions of future events. Factors that may cause differences include, without limitation: the demand for tickets on our platform or for live
events in general; our ability to maintain relationships with buyers and sellers, including individual sellers, professional sellers and content rights holders; changes in or any limitation or discontinuation of support by internet search engines and related technologies that impact how consumers find information online; our ability to compete in the ticketing industry against current or future competitors; our ability to continue to improve our platform and maintain and enhance our brands; our ability to expand into adjacent market opportunities across live entertainment and into additional live event and experience categories; our ability to expand the adoption of our platform for open distribution and disrupt the legacy primary ticketing model; the effects of seasonal trends on our results of operations; our ability to attract and retain a qualified management team and other team members while controlling our labor costs; our ability to effectively manage our exposure to fluctuations in foreign currency exchange rates and rising inflation rates; our ability to comply with existing laws, rules and regulations as well as the implementation of new or changing laws, rules and regulations and other legal uncertainties; the impact of extraordinary events or adverse economic conditions on discretionary consumer and corporate spending or on the supply and demand of live events; our ability to successfully defend against litigation; our ability to maintain the integrity of our information systems and infrastructure, and to mitigate possible cybersecurity risks; our ability to generate sufficient cash flows or raise additional capital necessary to fund our operations or service our debt, contractual commitments or obligations; our ability to remediate material weaknesses in our internal control over financial reporting; and the increased expenses associated with being a public company. For additional information on other potential risks and uncertainties that could cause actual results to differ from expected results, please refer to our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Reports on Form 10-Q. All forward-looking statements are based on information available to us as of the date of this press release and are made only as of such date. We undertake no obligation to update these statements to reflect subsequent events or circumstances, except as required by law.
Contact
Investors:
ir@stubhub.com
Media:
pr@stubhub.com