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).

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