...December 3, 2024 This report does not constitute a rating action. NEW YORK (S&P Global Ratings) Dec. 3, 2024--S&P Global Ratings today said that Live Nation Entertainment Inc.'s (##-/Negative) proposed issuance of its $1 billion convertible notes (not rated) is credit neutral. Live Nation will use the net proceeds from the proposed $1 billion of convertible notes due 2029 to repay its revolving credit facility borrowings, repurchase a portion of its $400 million 2.0% convertible senior notes due February 2025, and pay related fees and expenses. The remaining proceeds will be added to its balance sheet. The company had $585 million outstanding under the revolver as of Oct. 31, 2024. The company upsized its revolving credit facility (not rated) to $1.7 billion from $1.3 billion and extended the maturity to Nov. 5, 2029, from Nov. 16, 2028. The proposed transaction is credit neutral and improves the company's maturity profile. The upsized revolver and proposed notes do not have any impact...
