Warner Music's WMG Acquisition starts U.S. roadshow for $800 million two-part 10-year notes

By Paul A. Harris

St. Louis, March 23 - WMG Acquisition Corp. (Warner Music Group) started the U.S. roadshow Tuesday for an $800 million 10-year offering (B-), according to a syndicate source.

The company anticipates selling the notes in two tranches of approximately $615 million and £100 million, with pricing expected to take place on April 1 or 2.

Deutsche Bank Securities, Bank of America Securities, Lehman Brothers and Merrill Lynch & Co. are bookrunners on the Rule 144A/Regulation S offering.

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

The prospective issuer is a global music company headquartered in New York City.

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