Davis Polk advised Credit Suisse Securities (USA) LLC, Barclays Capital Inc, UBS Securities LLC, Macquarie Capital (USA) Inc. and Nomura Securities International, Inc. as joint book-running managers and the initial purchasers in Rule 144A/Regulation S offerings of $275 million principal amount of senior secured notes due 2022 and $660 million principal amount of senior notes due 2022 of WMG Acquisition Corp., a subsidiary of Warner Music Group Corp.
Davis Polk also advised Credit Suisse Securities (USA) LLC as dealer manager and consent solicitation agent on tender offers for any and all of WMG Acquisition Corp.'s $765 million outstanding 11.50% senior notes due 2018 and consent solicitations for proposed amendments to the indenture governing such notes.
Davis Polk also advised Credit Suisse Securities (USA) LLC, Barclays Bank PLC, Macquarie Capital (USA) Inc., Nomura Securities International, Inc. and UBS Securities LLC as joint bookrunners and joint lead arrangers, and Credit Suisse AG as administrative agent, in connection with an amendment to WMG Acquisition Corp.’s $150 million secured revolving credit facility to extend the maturity date.
With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry, including Asylum, Atlantic, Big Beat, East West, Elektra, Erato, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros., Warner Classics, Warner Music Nashville and Word, as well as Warner/Chappell Music, one of the world’s leading music publishers, with a catalog of more than one million copyrights worldwide.
The Davis Polk capital markets team included partner Michael Kaplan and associates Alain Kuyumjian, Ferrell Maguire and Siew Kwok. Partner Jason Kyrwood provided credit advice. The tax team included partner Lucy W. Farr and associate Ameya V. Bapat. Associate Bruce Rose-Innes provided intellectual property advice. All members of the Davis Polk team are based in the New York office.
