Aug. 8, 2013
/PRNewswire/ -- Live Nation Entertainment, Inc. (NYSE: LYV) today announced that it intends to offer, subject to market and other conditions,
in aggregate principal amount of its 7.000% senior notes due 2020 (the "Notes"). The Notes will be offered as additional notes under an existing indenture, dated as of
August 20, 2012
, pursuant to which the company previously issued
aggregate principal amount of 7.000% senior notes due 2020 (the "Existing Notes"). The Notes will form a part of the same series as the Existing Notes, and will be guaranteed by certain domestic subsidiaries of the company.
The company intends to use the net proceeds from the offering, together with borrowings under its new senior secured credit facility, to repay in full borrowings under its existing senior secured credit facility, redeem all of its outstanding 8.125% senior notes due 2018 and pay related fees and expenses. The completion of the offering of the Notes is conditioned upon the company's entry into the new senior secured credit facility.
The Notes will be offered through a private placement and will not be registered under the Securities Act of 1933, as amended, or any state securities laws. As a result, they may not be offered or sold in
the United States
or to any U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Notes will be offered only to "qualified institutional buyers" under Rule 144A of the Securities Act or, outside
the United States
, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. This news release is neither an offer to sell nor a solicitation of an offer to buy the Notes, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This news release contains forward-looking statements, including statements related to the offering and the expected use of the net proceeds, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The company refers you to the documents it files with the Securities and Exchange Commission, specifically the section titled "Item 1A. Risk Factors" of its annual report on Form 10-K for the year ended
December 31, 2012
and quarterly reports on Form 10-Q, and its periodic reports on Form 8-K, which contain and identify important factors that could cause actual results to differ materially from those contained in the company's projections or forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
Information found on Live Nation Entertainment's website is not incorporated by reference.