v3.23.2
Borrowings (Tables)
 12 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Borrowings
The Company’s total borrowings consist of the following:
Interest rate at June 30,
2023		Maturity at June 30,
2023		As of June 30, 2023As of June 30, 2022
(in millions)
News Corporation
2022 Term loan A(a)
6.842 %Mar 31, 2027497 500 
2022 Senior notes5.125 %Feb 15, 2032492 492 
2021 Senior notes3.875 %May 15, 2029989 987 
Foxtel Group (b)
2019 Credit facility (c)
6.65 %May 31, 2024320 68 
2019 Term loan facility6.25 %Nov 22, 2024167 171 
2017 Working capital facility (c)
6.65 %May 31, 2024— — 
Telstra facility11.46 %Dec 22, 2027100 90 
2012 US private placement—USD portion—tranche 2 (d)
— %Jul 25, 2022— 198 
2012 US private placement—USD portion—tranche 3 (d)
4.42 %Jul 25, 2024149 147 
2012 US private placement—AUD portion— %Jul 25, 2022— 68 
REA Group (b)
2022 Credit facility - tranche 1 (e)
5.35 %Sep 16, 2024211 273 
2022 Credit facility - tranche 2 (e)
5.50 %Sep 16, 2025— 8 
Finance lease liability42 67 
Total borrowings2,967 3,069 
Less: current portion (f)
(27)(293)
Long-term borrowings2,940 2,776 
________________________
(a)The Company entered into an interest rate swap derivative to fix the floating rate interest component of its Term A Loans at 2.083%. For the three months ended June 30, 2023 the Company was paying interest at an effective interest rate of 3.708%. See Note 11—Financial Instruments and Fair Value Measurements.
(b)These borrowings were incurred by certain subsidiaries of NXE Australia Pty Limited (the “Foxtel Group” and together with such subsidiaries, the “Foxtel Debt Group”) and REA Group and certain of its subsidiaries (REA Group and certain of its subsidiaries, the “REA Debt Group”), consolidated but non wholly-owned subsidiaries of News Corp, and are only guaranteed by the Foxtel Group and REA Group and their respective subsidiaries, as applicable, and are non-recourse to News Corp.
(c)As of June 30, 2023, the Foxtel Debt Group had total undrawn commitments of A$161 million available under these facilities.
(d)The carrying values of the borrowings include any fair value adjustments related to the Company’s fair value hedges. See Note 11—Financial Instruments and Fair Value Measurements.
(e)As of June 30, 2023, REA Group had total undrawn commitments of A$281 million available under this facility.
(f)The Company classifies the current portion of long term debt as non-current liabilities on the Balance Sheets when it has the intent and ability to refinance the obligation on a long-term basis, in accordance with ASC 470-50 “Debt.” $27 million relates to the current portion of finance lease liabilities as of June 30, 2023 and 2022.
Scheduled of Debt Maturities Excluding Other Obligations and Debt Issuance Costs
The following table summarizes the Company’s debt maturities, excluding debt issuance costs and finance lease liabilities, as of June 30, 2023:
As of June 30, 2023
(in millions)
Fiscal 2024$333 
Fiscal 2025537 
Fiscal 202625 
Fiscal 2027450 
Fiscal 2028100 
Thereafter
1,500