TKO Group Holdings, backed by Silver Lake, has launched a $900m leveraged loan add-on following the announcement of a $150m quarterly dividend to shareholders, according to sources cited by Bloomberg.

The offering, led by Goldman Sachs, represents a fungible incremental add-on to TKO’s existing term loan. Initial pricing discussions are set at 200 basis points above the benchmark, with the loan offered at 99.50 to 99.75 cents on the dollar. The facility will mature in November 2031.

The transaction comes after TKO declared a dividend of approximately $150m, or 78 cents per share, to Class A shareholders.

TKO operates both the UFC and WWE franchises and sits within the portfolio of Endeavor Group Holdings, which agreed to a $13bn take-private by Silver Lake in 2024.

The incremental financing underscores continued access to leveraged loan markets for sponsor-backed entertainment platforms, supported by improving fundamentals and rising media rights revenue.

Bloomberg Intelligence noted that TKO’s dividend signals strengthening performance, with momentum in sponsorships and financial incentive packages providing additional tailwinds.

Lender commitments for the $900m facility are due on 9 March.

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