Live Nation to draw down $400 million term loan A facility

By Wendy Van Sickle

Columbus, Ohio, Sept. 3 – Live Nation Entertainment, Inc. plans to draw down the $400 million in undrawn term loan A capacity under its amended senior secured credit facility that has a drawdown period through Oct. 17, according to an 8-K filing with the Securities and Exchange Commission.

This $400 million was included as part of the company’s previously disclosed $971 million in available debt capacity as of June 30.

Live Nation said it has elected to draw down the $400 million term loan A and add to the existing cash on its balance sheet rather than allow the commitments to permanently expire.

The loans are expected to be funded on Sept. 8. Proceeds will be used for general corporate purposes.

JPMorgan Chase Bank, NA is the administrative agent.

Live Nation is a Los Angeles-based concert promoter and music venue manager.

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