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Live Nation

Live Nation Prices An Expanded Senior Note Offering

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LOS ANGELES (CelebrityAccess) — On Monday, Live Nation announced the price of a previously announced offering of $900M in aggregate principal amount of its 3.125% convertible senior notes due 2029.

The promoter giant upped its offering size from the previously announced $850M aggregate principal amount of convertible notes.

The cap price of the capped call transactions will initially be $144.52 per share, which represents a premium of 100% over the last reported sale price of the company’s common stock of $72.26 per share on The New York Stock Exchange on January 9, 2023, Live Nation said.

According to Live Nation, they intend to use a portion of the proceeds to fund the cost of entering into capped call transactions and will use the remainder of the net proceeds from the convertible notes offering to fund a repurchase of approximately $440.0 million of its 2.5% convertible senior notes, which come due in 2023.

The initial closing date of offering is expected to land on January 12, 2023.

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