- Getty Images Holdings Inc (NYSE:GETY) said it had set aside an additional $25 million of balance sheet cash for the previously announced $275 million of deal proceeds towards debt repayment.
- The Company’s subsidiary, Getty Images Inc, made a voluntary prepayment of $300 million of its senior secured term loan.
- Following the voluntary prepayment, the Company has approximately $692.6 million outstanding under its USD Term Loan, and $438.9 million outstanding under its EUR Term Loan converted using the currency exchange rate as of June 30, 2022.
- Getty Images merged with a publicly traded special purpose acquisition company, CC Neuberger Principal Holdings, and started trading on the New York Stock Exchange on July 25, 2022.
- The Company held $213.8 million in cash and equivalents as of June 30, 2022.
- Price Action: GETY shares are trading higher by 7.27% at $29.53 on the last check Wednesday.
These 3 Mall REITs Provide Steady Dividends: But What’s Next As Stores Like Zumiez Get Hit With Inflation
Now that we're firmly in the second half of the year, we can analyze the impact rising interest rates and inflationary pressures have had on real estate investment trusts (REITs) that own large shopping centers and malls.
