Live Nation anticipates $250 million senior notes in Rule 144A sale

By Jennifer Chiou

New York, April 19 - Live Nation Inc. announced that it intends to sell $250 million of senior notes to qualified institutional buyers in a Rule 144A offering.

The terms of the unsecured notes have yet to be fleshed out, according to a company release.

Live Nation said it plans to use the net proceeds from the offering, along with borrowings under a new senior secured credit facility, to repay in full the borrowings under its existing credit facility and the credit facilities of its wholly owned subsidiary, Ticketmaster Entertainment LLC.

It may also convert existing preferred stock of one of its subsidiaries into the right to receive a cash payment and pay related fees and expenses.

The sale is subject to market and other conditions, including entering into the new credit facility.

Live Nation is a Beverly Hills, Calif.-based producer of live music concerts.

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