Live Nation to repay facility, redeem 7% notes via $575 million issue

By Susanna Moon

Chicago, Oct. 26 – Live Nation Entertainment Inc. plans to repay its senior secured credit facility and to redeem its 7% senior notes due 2020 using proceeds of a new notes issue.

Live Nation plans to price $575 million principal amount of senior notes due 2024, according to a company announcement.

Proceeds also will be used for general corporate purposes.

The company also plans to fund the redemption and paydown with drawdowns under its amended senior secured credit facility.

Live Nation is a Beverly Hills, Calif.-based provider of live music concerts and live entertainment ticketing sales and marketing services.

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