Live Nation to price $200 million tap of 7% notes due 2020 on Thursday

By Aleesia Forni

Virginia Beach, Va., Aug. 8 - Live Nation Entertainment Inc. (B3/B) plans to sell a $200 million add-on to its 7% senior notes due Sept. 1, 2020 on Thursday, according to an informed source and an 8-K filing with the Securities and Exchange Commission.

Proceeds, together with borrowings under the company's new senior secured credit facilities, will be used to repay the company's existing senior secured credit facilities and redeem all its outstanding 8 1/8% notes due 2018.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Scotiabank, Goldman Sachs & Co., HSBC Securities, Morgan Stanley & Co. LLC, RBS Securities Inc. and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A and Regulation S for life deal.

The notes will be immediately fungible with the existing notes.

The West Hollywood, Calif.-based provider of live event ticketing sales and marketing services priced the original $225 million issue at par on Aug. 15, 2012.

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