LOS ANGELES, Jan. 12, 2023 /PRNewswire/ — Live Nation Entertainment, Inc. (NYSE: LYV) at present introduced the completion of its beforehand introduced providing of $1.0 billion in mixture principal quantity of three.125% convertible senior notes due 2029. The providing measurement was elevated from the unique providing measurement of $850.0 million mixture principal quantity of notes in response to investor demand and after full train of the “greenshoe” choice.

“It’s 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,” mentioned Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment. “Our 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.”

Proceeds from the transaction might be used to repurchase a portion of the corporate’s present 2.5% convertible senior notes due March 2023, to pay associated charges and bills, to pay prices related to capped name transactions entered into in reference to the providing, and for normal company functions, which can embody the reimbursement or repurchase of sure of the corporate’s excellent indebtedness. This providing permits Live Nation to reduce share dilution from the two.5% convertible senior notes due March 2023, and the capped name transaction is designed to mitigate potential fairness dilution and lift the conversion premium of the brand new convertible notes from 50% to 100%.

About Live Nation Entertainment
Live Nation Entertainment (NYSE: LYV) is the world’s main dwell leisure firm comprised of world market leaders: Ticketmaster, Live Nation Concerts and Live Nation Media & Sponsorship.  For further data, go to www.livenationentertainment.com.

SOURCE Live Nation Entertainment