Major League Baseball is planning to issue $134 million of notes from its MLB Club Trust, according to a presale published today by Fitch Ratings.
The deal, which consists of $43.725 million of series 8 term notes due in 2020, $5 million of series 9 term notes due in 2023 and $85.275 million of series 10 term notes due 2025, is supported by pledged revenues from national broadcasting contracts.
Fitch has assigned a rating of ‘A-‘ to the notes. It also affirmed its ‘A-‘ rating on the MBL’s outstanding $669.16 of million term notes and its outstanding $500 million syndicated revolving credit facility.
Proceeds from the series 8, 9, and 10 term notes will refinance a portion of MLB's outstanding series 1 and 2 term notes.
