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Live Nation to sell $730m and €600m in bonds due 2032
Live Nation Entertainment has priced an offering of $730 million and €600 million in senior notes due in 2032.
The US dollar notes carry an interest rate of 7.125% per year, while the euro notes carry a rate of 6.125%.
The company intends to use the proceeds to redeem all of its outstanding 6.5% senior secured notes due in 2027, to pay fees and expenses related to the offering, and for general corporate purposes, which “may include the repayment or repurchase of certain of the company’s indebtedness”, according to Live Nation.
The final offerings differ from the terms set out when Live Nation launched the offering on Tuesday, 6 October; the company stated that it intended to offer $840 million of dollar notes and EUR €500 million of euro notes. This means the dollar offering was reduced by USD $110 million, while the euro offering increased by €100 million.
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