BUZZ-Live Nation slips after unveiling $1.3 bln convertible bonds sale

Reuters
Oct 08
BUZZ-Live Nation slips after unveiling $1.3 bln convertible bonds sale

** Live Nation Entertainment's LYV.N shares down 2.2% premarket to $151.96 as it seeks capital raise to refinance debt

** Beverly Hills, California-based LYV announces private offering of $1.3 bln 6-yr convertible bonds

** Co plans to use net offering proceeds to help fully redeem its 5.625% notes due 2026, to fully repay term loan and revolving credit facility, and for general purposes, including funding future venues or repayment of outstanding indebtedness

** LYV has $36.4 bln market cap

** On Mon, the U.S. Supreme Court rejected to hear a bid by LYV and its ticketing arm Ticketmaster to move a consumer class action lawsuit to arbitration

** Last month, the U.S. Federal Trade Commission sued LYV and Ticketmaster for engaging in what it called "illegal ticket resale tactics and deceiving artists and consumers about price and ticket limits"

** LYV shares have fallen past six sessions, leaving them up 20% YTD. In comparison, the S&P 500 Communication Services sector .SPLRCL is up 22.4% in 2025

** Of 23 analysts covering the stock, recommendation breakdown is 19 "strong buy" or "buy", 3 "hold" and 1 "sell"; median PT is $178.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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