WASHINGTON (dpa-AFX) - Live Nation Entertainment, Inc. (LYV), an entertainment and e-commerce company, on Wednesday announced that it has priced a private offering of $730 million in aggregate principal amount of 7.125% senior notes due 2032 and €600 million of 6.125% senior notes due 2032.
The company said the offering is expected to close on October 15.
The U.S. dollar notes will be issued at 100% of face value and carry an interest rate of 7.125% per annum.
The euro notes will be issued at 100% of face value and carry an interest rate of 6.125% per annum.
The company intends to use the net proceeds to fully redeem its outstanding 6.500% senior secured notes due 2027.
The proceeds will also be used to pay fees and expenses related to the offering and for general corporate purposes, including potentially repaying or repurchasing certain indebtedness.
Live Nation Entertainment closed trading 0.56% lesser at $170.84 on the New York Stock Exchange.
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