Live Nation to Repay Debt, Potentially Fund Concert Venues Via $1.3B Senior Note Offering  

Live Nation plans to connection $1.3 cardinal of convertible elder notes with 2031 owed dates that volition repay existing indebtedness and perchance money performance venues, the institution announced Wednesday (Oct. 8).

The offering’s proceeds, on with borrowings nether a caller recognition facility, volition beryllium utilized to redeem each of the $300 cardinal of 5.625% notes owed successful 2026. The notes volition besides wage the afloat amounts outstanding successful a word B indebtedness installation and the revolving recognition facility, which amounted to $823.8 cardinal arsenic of June 30. The institution besides intends to usage immoderate of the proceeds for wide firm purposes, which whitethorn see backing performance venues oregon repaying oregon purchasing immoderate of its outstanding debt.

Initial buyers volition person the close to acquisition up to an further $100 cardinal of convertible notes. The nett proceeds from these further notes are expected to beryllium utilized for wide firm purposes. 

As of June 30, Live Nation had full indebtedness of $6.48 cardinal connected its equilibrium sheet, with $4.99 cardinal being semipermanent and $1.49 cardinal classified arsenic existent (including $1.1 cardinal of elder convertible notes owed 2029 that holders could person exchanged successful the 3rd quarter). Live Nation besides has a $135 cardinal euro-denominated enactment owed this twelvemonth and $275 cardinal of indebtedness owed successful 2026 related to the acquisition of a U.S. venue. After adjacent year’s maturities, the institution volition person $1.2 cardinal of 6.5% elder secured notes and $950 cardinal of 4.75% elder notes, some owed successful 2027, and $500 cardinal of 3.75% elder secured notes owed 2028.