{"id":3440,"date":"2023-01-13T04:33:54","date_gmt":"2023-01-13T12:33:54","guid":{"rendered":"https:\/\/blog.goticketly.com\/index.php\/2023\/01\/13\/live-nation-entertainment-closes-1bn-convertible-senior-notes\/"},"modified":"2023-01-13T04:33:54","modified_gmt":"2023-01-13T12:33:54","slug":"live-nation-entertainment-closes-1bn-convertible-senior-notes","status":"publish","type":"post","link":"https:\/\/blog.goticketly.com\/index.php\/2023\/01\/13\/live-nation-entertainment-closes-1bn-convertible-senior-notes\/","title":{"rendered":"Live Nation Entertainment closes $1bn convertible senior notes"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"primary\">\n<p class=\"standfirst\">Live Nation Entertainment has completed its previously announced of $1bn (\u00a3800m\/\u20ac900m) in aggregate principle amount of 3.125% convertible senior notes due 2029.\u00a0<\/p>\n<p>The offering size was increased from the <a href=\"https:\/\/www.theticketingbusiness.com\/2023\/01\/12\/live-nation-increases-convertible-note-offering-to-900m\/\" target=\"_blank\" rel=\"noopener\">original offering size of $850m<\/a> in response to investor demand and after full exercise of the \u2018greenshoe\u2019 option.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Proceeds from the transaction will be used to repurchase a portion of the company\u2019s existing 2.5% convertible senior notes due March 2023, to pay related fees and expenses, to pay the costs associated with capped call transactions and for general corporate purposes.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>This may include the repayment of repurchase of certain of the company\u2019s outstanding indebtedness.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>This offering will enable Live Nation to minimise share dilution from the 2.5% convertible senior notes due March 2023. The promoter hopes the capped call transaction will mitigate potential equity dilution and increase the conversion premium of the new convertible notes from 50% to 100%.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Michael Rapino, president of chief executive of Live Nation, said: \u201cIt\u2019s incredible to see the confidence the market has in live entertainment and the future of Live Nation, with demand reaching almost five times that of our offering on very attractive terms.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>\u201cOur pipeline for 2023 remains strong and this added capital bolsters our already strong balance sheet as we continue to grow our business globally through acquisitions and investments.\u201d<\/p>\n<p>\t\t\t\t\t\t\t<!-- \n\n<div class=\"tax-cat-tags\">\n\t\t\t\t\t\t\t\t\n\n<div class=\"col-sm-6 tax-cat\">\n\t\t\t\t\t\t\t\t\t\n\n<p class=\"\">Filed under<\/p>\n\n\n\n\t\t\t\t\t\t\t\t\t<button class=\"btn\" >Awards<\/button>|<button class=\"btn\" >Ticketing<\/button>\n\n\t\t\t\t\t\t\t\t<\/div>\n\n\n\n\t\t\t\t\t\t\t\t\n\n<div class=\"col-sm-6 tax-tags\">\n\t\t\t\t\t\t\t\t\t\n\n<p class=\"\">Tags<\/p>\n\n\n\t\t\t\t\t\t\t\t\t<button class=\"btn\" >Ticketing<\/button>|<button class=\"btn\" >Stadiums<\/button>\n\t\t\t\t\t\t\t\t<\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\n --><\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.theticketingbusiness.com\/2023\/01\/13\/live-nation-entertainment-closes-1bn-convertible-senior-notes\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Live Nation Entertainment has completed its previously announced of $1bn (\u00a3800m\/\u20ac900m) in aggregate principle amount of 3.125% convertible senior notes due 2029.\u00a0 The offering size was increased from the original offering size of $850m in response to investor demand and after full exercise of the \u2018greenshoe\u2019 option.\u00a0 Proceeds from the transaction will be used &hellip; <\/p>\n","protected":false},"author":1,"featured_media":3441,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[144,156,432,3755],"tags":[],"class_list":["post-3440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-live-nation","category-live-nation-entertainment","category-nyse"],"_links":{"self":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts\/3440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/comments?post=3440"}],"version-history":[{"count":0,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts\/3440\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/media\/3441"}],"wp:attachment":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/media?parent=3440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/categories?post=3440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/tags?post=3440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}