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WMG Holdings Corp. and WMG Acquisition Corp. Announce Extension of Exchange Offers to April 19, 2012

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  • April 17, 2012
    WMG Holdings Corp. and WMG Acquisition Corp. Announce Extension of Exchange Offers to April 19, 2012

    WMG Holdings Corp. today announced that it has extended its offer to exchange (the “Holdings Exchange Offer”) $150 million in aggregate principal amount of its 13.75% Senior Notes due 2019 (the “New Holdings Notes”), which have been registered under the Securities Act of 1933, as amended, for an equal principal amount of its outstanding 13.75% Senior Notes due 2019 (the “Old Holdings Notes”).

    Separately, WMG Acquisition Corp. today announced that it has extended its offer to exchange (the “Acquisition Exchange Offer” and together with the Holdings Exchange Offer, the “Exchange Offers”) $765 million in aggregate principal amount of its 11.50% Senior Notes due 2018 (the “New Acquisition Notes”), which have been registered under the Securities Act of 1933, as amended, for an equal principal amount of its outstanding 11.50% Senior Notes due 2018 (the “Old Acquisition Notes”).

    The Exchange Offers were originally scheduled to expire at 5:00 p.m., New York City time, on April 16, 2012, unless extended. As of 5:00 p.m., New York City time, on April 16, 2012, $81,475,000 in aggregate principal amount of the Old Holdings Notes were tendered in exchange for a like principal amount of the New Holdings Notes, representing approximately 54.32% of the Old Holdings Notes and $707,500,000 in aggregate principal amount of the Old Acquisition Notes were tendered in exchange for a like principal amount of the New Acquisition Notes, representing approximately 92.48% of the Old Acquisition Notes.

    The new expiration date for the Exchange Offers is 5:00 p.m., New York City time, on April 19, 2012. Settlement of the Exchange Offers is expected to occur on April 20, 2012.

    This press release does not constitute an offer to exchange the New Holdings Notes for the Old Acquisition Notes or the New Acquisition Notes for the Old Acquisition Notes, or the solicitation of an offer to exchange. The Exchange Offers are only being made pursuant to prospectuses and letters of transmittal that have been filed with the Securities and Exchange Commission as part of registration statements on Form S-4 each of which was declared effective by the Securities and Exchange Commission on March 16, 2012.

    Requests for copies of the prospectuses or other documents relating to the Exchange Offers should be directed to the Exchange Agent, addressed as follows:

    By mail, hand or
    overnight courier:     
    WELLS FARGO BANK, N.A.
    Corporate Trust Operations
    MAC N9303-121
    Sixth & Marquette Avenue
    Minneapolis, MN 55479

    By facsimile:
    (612) 667-6282

    For information or
    confirmation by telephone:
    (800) 344-5128


    About Warner Music Group
    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, East West, Elektra, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. 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.

    Source: Warner Music Group

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on April 17, 2012 - 12:00am

WMG Holdings Corp. today announced that it has extended its offer to exchange (the “Holdings Exchange Offer”) $150 million in aggregate principal amount of its 13.75% Senior Notes due 2019 (the “New Holdings Notes”), which have been registered under the Securities Act of 1933, as amended, for an equal principal amount of its outstanding 13.75% Senior Notes due 2019 (the “Old Holdings Notes”).

Separately, WMG Acquisition Corp. today announced that it has extended its offer to exchange (the “Acquisition Exchange Offer” and together with the Holdings Exchange Offer, the “Exchange Offers”) $765 million in aggregate principal amount of its 11.50% Senior Notes due 2018 (the “New Acquisition Notes”), which have been registered under the Securities Act of 1933, as amended, for an equal principal amount of its outstanding 11.50% Senior Notes due 2018 (the “Old Acquisition Notes”).

The Exchange Offers were originally scheduled to expire at 5:00 p.m., New York City time, on April 16, 2012, unless extended. As of 5:00 p.m., New York City time, on April 16, 2012, $81,475,000 in aggregate principal amount of the Old Holdings Notes were tendered in exchange for a like principal amount of the New Holdings Notes, representing approximately 54.32% of the Old Holdings Notes and $707,500,000 in aggregate principal amount of the Old Acquisition Notes were tendered in exchange for a like principal amount of the New Acquisition Notes, representing approximately 92.48% of the Old Acquisition Notes.

The new expiration date for the Exchange Offers is 5:00 p.m., New York City time, on April 19, 2012. Settlement of the Exchange Offers is expected to occur on April 20, 2012.

This press release does not constitute an offer to exchange the New Holdings Notes for the Old Acquisition Notes or the New Acquisition Notes for the Old Acquisition Notes, or the solicitation of an offer to exchange. The Exchange Offers are only being made pursuant to prospectuses and letters of transmittal that have been filed with the Securities and Exchange Commission as part of registration statements on Form S-4 each of which was declared effective by the Securities and Exchange Commission on March 16, 2012.

Requests for copies of the prospectuses or other documents relating to the Exchange Offers should be directed to the Exchange Agent, addressed as follows:

By mail, hand or
overnight courier:     
WELLS FARGO BANK, N.A.
Corporate Trust Operations
MAC N9303-121
Sixth & Marquette Avenue
Minneapolis, MN 55479

By facsimile:
(612) 667-6282

For information or
confirmation by telephone:
(800) 344-5128


About Warner Music Group
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, East West, Elektra, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. 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.

Source: Warner Music Group