Live Nation Rolls Out $200 Million Private Notes Offering
August 8, 2013 at 8:46 AM (PT)
LIVE NATION ENTERTAINMENT intends to offer, subject to market and other conditions, $200 million in aggregate principal amount of its 7.000% senior notes due 2020. The Notes will be offered as additional notes under an existing indenture, dated as of AUGUST 20, 2012, pursuant to which the company previously issued $225 million aggregate principal amount of 7.000% senior notes due 2020.
The Notes will form a part of the same series as the Existing Notes, and will be guaranteed by certain domestic subsidiaries of the company.
The company intends to use the net proceeds from the offering, together with borrowings under its new senior secured credit facility, to repay in full borrowings under its existing senior secured credit facility, redeem all of its outstanding 8.125% senior notes due 2018 and pay related fees and expenses.