SFX Entertainment draws down $20 million under revolver

By Toni Weeks

San Luis Obispo, Calif., Aug. 19 – SFX Entertainment, Inc. said it drew $20 million under its revolving credit facility on Monday, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds are being used for working capital and general corporate purposes, including funding future acquisitions and paying related fees and expenses.

The company announced on Tuesday that it was starting a consent solicitation for a proposed amendment to the terms of its outstanding 9 5/8% second-lien senior secured notes due 2019.

It also announced that it is planning to issue more of the notes.

New York-based SFX is a producer of live events and digital entertainment content focused on electronic music culture and other world-class festivals.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.