Live Nation Secures $3.7 Billion in New Credit Facilities

"Live Nation Entertainment, Inc. has secured an Amended and Restated Credit Agreement, which includes a $1.3 billion multicurrency revolving credit facility, a $400 million venue expansion revolving credit facility, a $700 million delayed draw term loan A facility, and a $1.3 billion term loan B facility. The agreement was fully drawn at closing. Latham & Watkins LLP provided legal advice for the transaction, with a team led by partner Elizabeth Oh and various other specialists addressing security, tax, ERISA, and derivative matters."

Latham & Watkins LLP advised Live Nation Entertainment, Inc. in a significant financial transaction involving an Amended and Restated Credit Agreement. The transaction includes a US$1.3 billion multicurrency revolving credit facility, a US$400 million venue expansion revolving credit facility, a US$700 million delayed draw term loan A facility, and a US$1.3 billion term loan B facility, which was fully drawn at the closing of the new senior secured credit facilities. The new multicurrency revolving facility also provides for sublimits of up to US$250 million for the issuance of letters of credit and US$200 million for swingline loans. The legal team from Latham & Watkins LLP consisted of partner Elizabeth Oh and counsel Jonathan Shih, both based in Los Angeles/Bay Area, along with associates Rychelle Andersen, Alexis Frese, Jake Ibrahim, and Kayla Matthews. Additional advice was provided by Los Angeles counsel Emily Yu on security matters; partner Ana O’Brien and associate Katie Harrington on tax matters; partner Michelle Carpenter and counsel Aryeh Zuber on ERISA matters; and partner Greg Rodgers and partner Reza K. Mojtabaee-Zamani on converts and derivative matters, with associates Claire Solimine, Andrew Bentz, and Daniel Weiss also contributing.

Live Nation Secures $3.7 Billion in New Credit Facilities

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