New Issue-WMG Acquisition Corp sells $1.1 bln notes

Tue May 19, 2009 6:10pm EDT 

  May 19 (Reuters) - WMG Acquisition Corp, a unit of music
content company Warner Music Group Corp. WMG.N, on Tuesday
sold $1.1 billion of seven-year senior secured notes in the
144a private placement market, said IFR, a Thomson Reuters
publication.
  The size of the deal was increased from an originally
planned $500 million.
  Goldman Sachs, Bank of America were the joint bookrunning
managers for the sale.
BORROWER: WMG ACQUISITION CORPORATION
AMT $1.1 BLN*    COUPON 9.50 PCT     MATURITY 6/1/2016  
TYPE SR SEC NTS  ISS PRICE 96.289    FIRST PAY 12/1/2009
MOODY'S N/A      YIELD 10.25 PCT     SETTLEMENT 5/29/2009
S&P N/A          SPREAD 756 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS   NON-CALLABLE 4 YEARS**
 *$1.059179 BLN PROCEEDS TO ISSUER
**MAKE-WHOLE CALL 50 BPS
Stocks
Bonds News
Bonds
IPOs
Markets
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.