Warner Music to repay a portion of its senior term loan facility

By Taylor Fox

New York, Aug. 6 – Warner Music Group Corp. plans to repay a portion of its senior term loan facility and to pay related fees and expenses using proceeds from a private offering of $550 million aggregate principal amount of senior secured notes due Feb. 15, 2031 by its wholly owned subsidiary, WMG Acquisition Corp., according to a news release.

Any remaining proceeds will be used for working capital and other general corporate purposes.

Warner is a New York City-based record label and entertainment conglomerate.

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