Warner Music Sells $1.065B in HY Deal

Sheahan, Matthew
July 2011
High Yield Report;7/18/2011, p15
The article highlights the 1.065 billion U.S. dollars three-part junk bond deal successfully sold by Warner Music Group in July 2011, which will be used in its 3.3 billion U.S. dollars buyout by Access Industries. 765 million U.S. dollars worth of 11.5% senior notes due 2018 and 150 million U.S. dollars in 13.75% senior notes due 2019 were issued by the company. A B3 rate was given by Moody's Investors for the two new tranches of senior notes while the add-on tranche received a Ba2.


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