Live nation entertainment, inc. announces pricing of private notes offering

Live nation entertainment, inc. announced that it priced an offering of $950 million in aggregate principal amount of its 4.75% senior notes due 2027 (the "senior notes"). the senior notes were priced at 100.000% of their principal amount. the company intends to enter into an amendment to its existing senior secured credit facility (the "new senior secured credit facility") concurrently with the closing of the senior notes offering. the company intends to use the net proceeds from this offering, together with borrowings under its new senior secured credit facility, to redeem all of its existing 5.375% senior notes due 2022, to repay in full borrowings under its existing senior secured credit facility, to pay related fees and expenses and for general corporate purposes, including acquisitions. the senior notes will be guaranteed by certain of the company's existing and future domestic subsidiaries and will be senior unsecured obligations of the company. the closing date of the senior notes offering will be october 17, 2019, subject to customary closing conditions. the completion of the senior notes offering is not conditioned upon the company's entry into the new senior secured credit facility.
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