Live Nation closes $1.3B 2.875% convertible notes offering due 2031

Live Nation Entertainment, Inc.

Closed $1.3B 2.875% convertible notes due Oct 15, 2031; initial conversion price ~$224.93 (50% premium to $149.95 close).
Proceeds plus new credit facilities to redeem $1.3B of 5.625% 2026 notes and repay existing term loan and revolver.
Initial purchasers have 13-day option for additional $100M notes; total potential principal $1.4B.
Plans new credit facilities: $1.3B term loan B, $700M delayed-draw term loan A, $1.3B revolver, $400M venue revolver.
Issued conditional redemption notice for 2026 Notes on Nov 8, 2025, conditioned on receiving $302.4M gross proceeds.

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