HILVERSUM, The Netherlands (CelebrityAccess) — Universal Music Group announced plans to raise €750m (approximately $802m USD) through the sale of 4.000% senior unsecured notes that come due in 2031.
According to UMG, the bonds were issued from the company’s Euro Medium Term Note program and sold to investors outside of the U.S.
UMG will use the proceeds from the sale to refinance existing debt as well as paying for transaction fees and expenses, amid globally increased costs for debt, the company said.
BNP Paribas and BofA Securities acted as Global Coordinators and together with Crédit Agricole CIB, Goldman Sachs Bank Europe SE, ING and Mizuho as Active Bookrunners on the issuance.
Citigroup Global Markets Europe AG, Intesa, Mediobanca, Morgan Stanley Europe SE, MUFG Securities (Europe) NV, Natixis, Santander, Société Générale acted as Co-managers.
