Davis Polk advised the joint book-running managers and initial purchasers in a Rule 144A/Regulation S offering of €195 million principal amount of senior secured notes due 2026 of WMG Acquisition Corp., a subsidiary of Warner Music Group Corp.
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, Canvasback, East West, Elektra, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin’, Warner Bros., Warner Classics and Warner Music Nashville, as well as Warner/Chappell Music, one of the world’s leading music publishers, with a catalog of more than one million copyrights worldwide.
Credit Suisse AG and Wells Fargo Bank acted as joint book-running in the deal.
The Davis Polk capital markets team included partner Michael Kaplan (Picture), counsel Jeffrey S. Ramsay and associates Jolie Yang and Cameron Adamson. The credit team included counsel David Hahn and associate Madeleine Vella. The tax team included partner Lucy W. Farr and associate Eitan Ulmer. The intellectual property and technology team included associate Christopher C. Woller.
Involved fees earner: Cameron Adamson – Davis Polk & Wardwell; Lucy Farr – Davis Polk & Wardwell; David Hahn – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Jeffrey Ramsay – Davis Polk & Wardwell; Eitan Ulmer – Davis Polk & Wardwell; Madeleine Vella – Davis Polk & Wardwell; Christopher Woller – Davis Polk & Wardwell; Jolie Yang – Davis Polk & Wardwell;
Law Firms: Davis Polk & Wardwell;