LOS ANGELES (CelebrityAccess) — On Thursday, Live Nation Entertainment announced it successfully closed its previously announced $1 billion dollar bond issuance.
The convertible senior note offering in the principal amount of 3.125%, will come due in 2029.
Live Nation used approximately $489.3 million of the net proceeds from the Notes offering to repurchase approximately $440.0 million aggregate principal amount of its 2.5% convertible senior notes due 2023 and the payment of fees and expenses.
The company plans to use the remaining proceeds from the offering for general corporate purposes, which may include the repayment or repurchase of certain of the Company’s outstanding indebtedness.
