Convertibles Calendar: Live Nation on tap

Jan. 9

LIVE NATION ENTERTAINMENT INC.

• $900 million six-year convertible notes, upsized from $850 million

• $100 million greenshoe, upsized from $85 million

• Coupon of 3% to 3.5% and initial conversion premium of 50%; tightened from initial talk for a coupon of 3.25% to 3.75% and an initial conversion premium of 45% to 50%

• Non-callable until Jan. 21, 2026 then subject to a 130% hurdle

• Rule 144A

• J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Citigroup Global Markets Inc.

• Fund the cost of the call spread, to repurchase for cash a portion of its 2.5% convertible notes due March 15, 2023 and for general corporate purposes, which may include the repayment or repurchase of other outstanding debt

• Los Angeles-based live entertainment company

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