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Live Nation Favorably Refinances Its Debt

LOS ANGELES (CelebrityAccess MediaWire) – Live Nation is undertaking a private issue of $200 million in senior notes, along with borrowings from a new line of credit to roll over their older, outstanding debt.

The bonds will be issued at 7.000% and come due in 2020 and the company will redeem their previous outstanding offering of $225 million worth of senior notes, which were issued at 8.125%, and which were due in 2018.

The bonds will be offered only to qualifying institutional investors and not to the public. Wall Street seems to approve of Live Nation's financial position in recent months and since the beginning of the year, the company's stock price has more than doubled, closing yesterday at $18.30 – CelebrityAccess Staff Writers