Warner Music Group Corp. Refinancing

Davis Polk advised the joint book-running managers and the initial purchasers in a Rule 144A/Regulation S offering of €250 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.

The Davis Polk capital markets team included partner Michael Kaplan, counsel Jeffrey S. Ramsay and associate Chris Van Buren. The finance team included counsel David Hahn and associate Madeleine Vella. The tax team included partner Lucy W. Farr and associates Tracy L. Matlock and Eitan Ulmer. The intellectual property and technology team included associate Christopher C. Woller. All members of the Davis Polk team are based in the New York office.