Warner Music to start European roadshow Thursday for $800 million equivalent notes

By Paul A. Harris

St. Louis, March 16 - Warner Music Group is expected to hold a roadshow in Europe on Thursday and Friday for an $800 million equivalent offering of 10-year senior subordinated notes, to be issued in dollar and sterling tranches, according to an informed source. A U.S. roadshow will follow.

The anticipated tranche sizes are $615 million and £100 million.

Deutsche Bank Securities, Banc of America Securities, Lehman Brothers and Merrill Lynch & Co. will run the books on the Rule 144A offering.

Proceeds will be used to support the acquisition of Warner Music Group from Time Warner by Thomas H. Lee Partners, Edgar Bronfman's Music Capital Partners, Bain Capital, and Providence Equity Partners.

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