May 20, 2009

By By Glenn Peoples, Nashville

Warner Music Group announced today an a filing with the SEC that it has upped to $1.1 billion the amount of its planned sale of senior secured notes. The amount announced yesterday was $500 million. The company says it will use the proceeds plus about $335 million from its cash reserves to repay all amounts due under its senior secured credit facility.

This SEC filing contains this updated information about WMG's bond issuance: "The offering of WMG Acquisition Corp.'s senior secured notes due 2016 announced on May 18, 2009 was increased to $1.1 billion from a previously announced offering size of $500 million. WMG Acquisition Corp. will use the net proceeds from the offering, plus approximately $335 million in existing cash, to repay all amounts due under its existing senior secured credit facility and pay related fees and expenses."

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