We advised the lead arranger and the agent on the incremental term loan facility

Davis Polk advised the sole lead arranger and sole bookrunner, and the administrative agent, in connection with an amendment providing for a $150 million incremental term loan facility, under the existing term loan credit agreement of WMG Acquisition Corp., a subsidiary of Warner Music Group. The incremental term loans increased the aggregate principal amount of term loans under the term loan credit agreement to approximately $1.295 billion.

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.

The Davis Polk finance team included partner David Hahn and associates Mario Babić, Theodore N. Batis and Madison Smiley. All members of the Davis Polk team are based in the New York office.

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