WMG Acquisition Corp. Announces Pricing of $250 Million Additional Senior Secured Notes Offering
NEW YORK, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Warner Music Group Corp. (“Warner Music Group” or “WMG”) today announced that through its wholly owned subsidiary, WMG Acquisition Corp. (the “Company”),
it has priced a private offering (the “Offering”) of $250 million aggregate principal amount of additional 3.000% Senior Secured Notes due 2031 (the “Additional Notes”). The Additional Notes will
be issued at a price equal to 97.501% of their face value plus accrued interest from August 12, 2020. The initial 3.000% Senior Secured Notes due 2031 were issued in an aggregate principal amount
of $550 million on August 12, 2020 (the “Original Notes”). The Offering is expected to close on November 2, 2020, subject to customary closing conditions. The Additional Notes have been offered and
sold in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the “Securities Act”). The Additional Notes have been offered and sold
only to qualified institutional buyers pursuant to Rule 144A and to certain persons outside the United States pursuant to Regulation S, each under the Securities Act. The Company intends to use the
net proceeds of the Offering to fund a portion of the aggregate cash consideration for certain acquisitions. The Company may also use the net proceeds of the Offering to redeem all or a portion of
the Additional Notes at any time on one or more occasions on or prior to the fifth business day following December 18, 2020 (the “Special Optional Redemption Election Date”) by giving notice at
least five business days prior to such time at the special optional redemption price equal to the issue price of the Additional Notes (excluding accrued interest for the period prior to the
settlement date) plus 1% of the principal amount thereof together with accrued and unpaid interest on such Additional Notes from August 12, 2020 (or the most recent interest payment date on which
interest was paid) to but excluding the redemption date, or for general corporate purposes.
Lesen Sie auch
The Additional Notes and the Original Notes will be treated as the same series for all purposes under the indenture following the fifth business day after the Special Optional Redemption Election Date. The Additional Notes have not been registered under the Securities Act and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements.