Live Nation Entertainment Inc. said late Monday that it plans to refinance some debt by selling $250 million in senior notes in a private placement to institutional buyers.

The Beverly Hills concert promoter and ticket seller said it plans to use the net proceeds, along with borrowings under a new credit facility, to repay in full borrowings under its existing credit facility. It also will use the proceeds to repay the credit facilities of subsidiary Ticketmaster Entertainment LLC, which it recently acquired.

The interest rate and other terms will be determined by negotiations between Live Nation and the initial purchasers. The notes will be unsecured.

Live Nation shares closed up 39 cents, or 2.6 percent, to $15.54 on the New York Stock Exchange.