SFX Entertainment add-on to 9 5/8% secured notes to launch in September via Barclays

By Paul A. Harris

Portland, Ore., Aug. 20 – SFX Entertainment, Inc. is expected to launch a to-be-determined amount of add-on notes to its outstanding issue of 9 5/8% second-lien senior secured notes due Feb. 1, 2019 (existing ratings Caa1/B-) following the Aug. 29 expiration of a current consent solicitation for an amendment to the outstanding 9 5/8% notes, making the add-on September business, an informed source said on Wednesday.

Barclays, which is leading the consent, is expected to be the lead left bookrunner for the Rule 144A and Regulation S add-on.

The source declined to provide any further information on the bond deal, which was announced in a Tuesday press release and reported in the Aug. 20 edition of the Prospect News High Yield Daily.

The proposed amendment would, among other things, amend the calculation of consolidated EBITDA in the existing bond indenture.

SFX Entertainment is a New York-based producer of live events and entertainment content focused on the electronic music culture.

The original $220 million issue priced at par on Jan. 31, 2014.

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