Live Nation Announces $225 Million Private Notes Offering
August 15, 2012 at 3:41 PM (PT)
LIVE NATION ENTERTAINMENT, INC. has priced an offering of $225 million in aggregate principal amount of 7.00% senior unsecured notes due 2020. The Notes are guaranteed by certain subsidiaries of LIVE NATION. Interest on the Notes will be payable semi-annually on SEPTEMBER 1st and MARCH 1st of each year, beginning on MARCH 1st, 2013.
LIVE NATION intends to use the net proceeds from the offering, together with a new $100 million term loan under its senior secured credit facility, to redeem all of its outstanding 10.75% senior notes due 2016, to pay related fees and expenses in connection therewith and for general corporate purposes.