NEW YORK, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Warner Music Group Corp. today announced that, through its wholly owned subsidiary WMG Acquisition Corp, it has commenced a private offering (the “Offering”) of euro-denominated senior secured notes (the “New Notes”).

The New Notes will be offered in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the “Securities Act”). The New Notes will be offered only to qualified institutional buyers pursuant to Rule 144A and to certain persons outside the United States pursuant to Regulation S, each under the Securities Act. The Company intends to use the proceeds of the Offering to fund the purchase price of its previously announced acquisition of EMP Merchandising.

The New Notes have not been registered under the Securities Act and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements.

The Company also intends to issue a conditional notice of partial redemption for up to 10% of its 4.125% Senior Secured Notes due 2024 (the “4.125% Notes”) currently outstanding. The partial redemption will be conditioned upon, among other things, the closing of the Offering. We plan to redeem €34.5 million of the 4.125% Notes on or about October 12, 2018 at the redemption price of 103%. In the event that the conditions specified in the notice of partial redemption are not satisfied, the redemption will not occur.

This press release is not an offer to sell or purchase nor the solicitation of an offer to sell or purchase securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.

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, 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.