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Warner Music to price €200 million eight-year notes on Monday
By Paul A. Harris
Portland, Ore., Oct. 1 – Warner Music Group Corp. plans to price €200 million of eight-year senior secured notes (Ba3/B+) in a quick-to-market Monday trade, according to a market source.
Credit Suisse Securities (USA) LLC has the books for the Rule 144A and Regulation S offering.
The notes come with three years of call protection.
The issuing entity will be WMG Acquisition Corp., a wholly owned subsidiary of Warner Music Group.
The New York-based music company plans to use the proceeds to fund the partial redemption of its 4 1/8% senior secured notes due 2024.
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