Live Nation Entertainment, Inc. (LYV): debt financing — Live Nation enters $3.7B credit agreement with new facilities; $1.3B term loan B drawn to refinance debt

Live Nation Entertainment, Inc.

New multicurrency revolving facility of $1.3B, venue expansion revolver of $400M, and $700M delayed draw term loan A.
Term loan B facility of $1.3B fully drawn at closing to refinance existing obligations under prior credit agreement.
Revolver and delayed draw mature Oct 21, 2030; term loan B matures Oct 21, 2032.
Financial covenant: maximum net debt/EBITDA ratio starting at 6.75x stepping down to 5.25x over years.
Interest rates: Term SOFR + 2.00% for term B; SOFR + 1.50% for revolver/delayed draw (with stepdowns).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Live Nation Entertainment, Inc. incurred term loan of $700 million delayed draw term loan A facility with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at Term SOFR plus 1.50% or an adjusted base rate plus 0.50% maturing October 21, 2030.

Instrument: term loan
Principal: $700 million delayed draw term loan A facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
Rate: Term SOFR plus 1.50% or an adjusted base rate plus 0.50%
Maturity: October 21, 2030
Event: incurrence

Exact text from the filing

revolving credit facility (the “new venue expansion revolving facility” and together with the new multicurrency revolving facility, the “new revolving facilities”), (iii) a $700 million delayed draw term loan A facility (the “new delayed draw term loan A facility”), and (iv) a $1.3 billion term loan B facility (the “new term loan B facility” and together with

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Live Nation Entertainment, Inc. incurred term loan of $1.3 billion term loan B facility with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at Term SOFR plus 2.00% or an adjusted base rate plus 1.00% maturing October 21, 2032.

Instrument: term loan
Principal: $1.3 billion term loan B facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
Rate: Term SOFR plus 2.00% or an adjusted base rate plus 1.00%
Maturity: October 21, 2032
Event: incurrence

Exact text from the filing

amended and restated, supplemented or otherwise modified immediately prior to the effectiveness of the Credit Agreement, the “Existing Credit Agreement”), and provides for (i) a $1.3 billion multicurrency revolving credit facility (the “new multicurrency revolving facility”), (ii) a $400 million venue expansion revolving credit facility (the “new venue expansion

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Live Nation Entertainment, Inc. incurred revolving credit of $400 million venue expansion revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at Term SOFR plus 1.50% or an adjusted base rate plus 0.50% maturing October 21, 2030.

Instrument: revolving credit
Principal: $400 million venue expansion revolving credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
Rate: Term SOFR plus 1.50% or an adjusted base rate plus 0.50%
Maturity: October 21, 2030
Event: incurrence

Exact text from the filing

Agreement, the “Existing Credit Agreement”), and provides for (i) a $1.3 billion multicurrency revolving credit facility (the “new multicurrency revolving facility”), (ii) a $400 million venue expansion revolving credit facility (the “new venue expansion revolving facility” and together with the new multicurrency revolving facility, the “new revolving

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Live Nation Entertainment, Inc. incurred credit facility of $1.3 billion multicurrency revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at Term SOFR plus 1.50% or an adjusted base rate plus 0.50% maturing October 21, 2030.

Instrument: credit facility
Principal: $1.3 billion multicurrency revolving credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
Rate: Term SOFR plus 1.50% or an adjusted base rate plus 0.50%
Maturity: October 21, 2030
Event: incurrence

Exact text from the filing

amended and restated, supplemented or otherwise modified immediately prior to the effectiveness of the Credit Agreement, the “Existing Credit Agreement”), and provides for (i) a $1.3 billion multicurrency revolving credit facility (the “new multicurrency revolving facility”), (ii) a $400 million venue expansion revolving credit facility (the “new venue expansion

View on SEC.gov

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Live Nation Entertainment, Inc. filing history →

Source: SEC EDGAR

accession 0001335258-25-000140

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