WASHINGTON (dpa-AFX) - Live Nation Entertainment, Inc. (LYV) announced on Tuesday that it intends to offer $1 billion in aggregate principal amount of convertible senior notes, due 2030.
The company aims to use the net proceeds from the offering to finance the repurchase of a portion of its 2 percent convertible senior notes, due 2025. The net proceeds will also be used for the payment of costs and expenses, to repay debt, and for general corporate purposes.
In connection with this offering, the company expects to allow the initial purchasers to purchase up to an additional $100 million aggregate principal amount of convertible notes.
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