The Consent Solicitation Statement provides that, if the requisite consent is received and a supplemental indenture is validly entered into, the supplemental indenture will bind all holders of the Notes (including those did not give their consent) and consents delivered will become irrevocable. The Company expects that the supplemental indenture will be entered into promptly and provide that the Proposed Amendments will take effect upon the consummation of a series of previously announced refinancing transactions (the "Related Transactions"), as further described in the Consent Solicitation Statement.
The Company’s obligation to make cash payments of $7.50 per $1,000 in outstanding principal amount of the Notes (the "Consent Payment") for consents validly delivered prior to the Expiration Time and not revoked according to the terms of the Consent Solicitation Statement is subject to the satisfaction of certain conditions, including the consummation of the Related Transactions. The Company expects to make the Consent Payments on or promptly after the consummation of the Related Transactions. No accrued interest will be paid on the Consent Payment. Non-consenting holders will not receive the Consent Payment.
Live Nation has engaged J.P. Morgan Securities Inc. to serve as the Solicitation Agent for the consent solicitation. i-Deal has been retained to serve as the Information and Tabulation Agent for the consent solicitation. Requests for documents may be directed to i-Deal by telephone at (877) 746-3583 (toll free) or (201) 499-3500 (collect). Questions regarding the consent solicitation may be directed to J.P. Morgan Securities Inc. by telephone at (212) 270-1494.
This press release is for informational purposes only and does not constitute a solicitation of consents, which may be made only pursuant to the terms of the Consent Solicitation Statement and related documents. The consent solicitation is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such solicitation under applicable securities or blue sky laws. In any jurisdiction where the laws require the consent solicitation to be made by a licensed broker or dealer, the consent solicitation shall be deemed made on behalf of Live Nation by J.P. Morgan Securities Inc. or one or more registered brokers or dealers under the laws of such jurisdiction.
This press release contains forward-looking statements regarding Live Nation’s intentions to effect the supplemental indenture and the Proposed Amendments, make the Consent Payment, and consummate the Related Transactions. There is no assurance that Live Nation will effect the Proposed Amendments, make the Consent Payment or consummate the Related Transactions. Investors should not place undue reliance on forward-looking statements as predictions of future results. Live Nation undertakes no obligation to update or revise any forward-looking statements to reflect developments or information obtained after the date of this press release.
Information found on Live Nation’s website is not incorporated by reference.
First Call Analyst:
FCMN Contact: [email protected]
SOURCE: Live Nation Entertainment, Inc.