Why Getty Images (GETY) Shares Are Trading Higher Today - Getty Images Holdings (NYSE:GETY)

Getty Images Holdings Inc 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.

Getty Images Pays $300M Senior Secured Debt