SFX Entertainment plans to tap 9 5/8% secured notes due 2019

By Paul A. Harris

Portland, Ore., Aug. 19 – SFX Entertainment, Inc. announced in a Tuesday press release that it plans to place an add-on to its 9 5/8% second-lien senior secured notes due Feb. 1, 2019 (existing ratings Caa1/B-) subject to market conditions and via Rule 144A and Regulation S.

The announcement made no mention of the proposed size, or of the timing of the deal, syndicate names or uses of proceeds.

The new notes will be fully and unconditionally guaranteed by each of SFX’s existing and future wholly owned domestic restricted subsidiaries as well as by its non-wholly owned domestic subsidiary SFX-Nightlife Operating, LLC, the release stated.

The original $220 million issue priced at par on Jan. 31, 2014 in a deal which came to market via bookrunners Barclays, Deutsche Bank Securities Inc., Jefferies LLC and UBS Investment Bank.

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