Live Nation Launches Private Offering Of New Notes
May 19, 2014 at 4:56 AM (PT)
LIVE NATION ENTERTAINMENT, INC. is offering a private placement of $250 million aggregate principal amount of convertible senior notes due 2019 and $250 million aggregate principal amount of senior notes due 2022. Net proceeds will be used to redeem all of the company's outstanding 2.875% Convertible Senior Notes due 2027 plus related fees and expenses, as well as reinvestment in core business and for general corporate purposes, including potential acquisitions.
Buyers will also get a 30-day option to purchase an additional $25 million aggregate principal amount of the Convertible Notes to cover over-allotments, if any.