Live Nation to sell $250 million eight-year notes in Monday drive-by

By Paul A. Harris

Portland, Ore., May 19 - Live Nation Entertainment, Inc. plans to price a $250 million offering of eight-year senior notes (expected ratings B3/B+) Monday, according to market sources.

Goldman Sachs & Co., J.P. Morgan Securities LLC, BofA Merrill Lynch, HSBC Securities, Morgan Stanley & Co. LLC, RBS Securities Inc., Wells Fargo Securities LLC and Scotia Capital are the joint bookrunners for the Rule 144A and Regulation S deal.

The notes come with three years of call protection.

The Los Angeles-based live entertainment company plans to use the proceeds, along with proceeds from a $250 million offering of convertible senior notes due 2019, to redeem all of its outstanding 2 7/8% convertible senior notes due 2027, as well as to reinvest in the company's core business and for general corporate purposes, including potential acquisitions.

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