Live Nation flexes $970 million term loan B to Libor plus 225 bps

By Sara Rosenberg

New York, June 22 – Live Nation Entertainment Inc. raised pricing on its $970 million term loan B to Libor plus 225 basis points from Libor plus 200 bps, according to a market source.

In addition, the issue price on the loan firmed at par, the tight end of the 99.75 to par talk, the source said.

As before, the term loan has a 0% Libor floor and 101 soft call protection for six months.

J.P. Morgan Securities LLC is the lead bank on the deal.

Recommitments were scheduled to be due at noon ET on Thursday, the source added.

Proceeds will be used to reprice an existing term loan from Libor plus 250 bps with a 0% Libor floor.

Live Nation is a Beverly Hills, Calif.-based provider of live music concerts and live entertainment ticketing sales and marketing services.

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