Latham & Watkins Advises Live Nation on US$3.7 Billion Amended and Restated Credit Agreement

Live Nation Entertainment, Inc. has entered into an Amended and Restated Credit Agreement that provides for (i) a US$1.3 billion multicurrency revolving credit facility, (ii) a US$400 million venue expansion revolving credit facility, (iii) a US$700 million delayed draw term loan A facility, and (iv) 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 provides for sublimits of up to US$250 million for the issuance of letters of credit and US$200 million for swingline loans.

Latham & Watkins LLP advised Live Nation in the transaction with a finance team led by Los Angeles/Bay Area partner Elizabeth Oh and Los Angeles counsel Jonathan Shih, with associates Rychelle Andersen, Alexis Frese, Jake Ibrahim, and Kayla Matthews. Advice was also provided on security matters by Los Angeles counsel Emily Yu; tax matters by Los Angeles partner Ana O’Brien, with associate Katie Harrington; on ERISA matters by Los Angeles/Orange County partner Michelle Carpenter and Los Angeles/New York counsel Aryeh Zuber; and on converts and derivative matters by Los Angeles/New York partner Greg Rodgers and New York partner Reza K. Mojtabaee-Zamani, with associates Claire Solimine, Andrew Bentz, and Daniel Weiss.