SANTA MONICA, Calif.--(BUSINESS WIRE)--
Activision Blizzard, Inc. (NASDAQ: ATVI) today announced its intention
to offer, in a public underwritten transaction, senior unsecured notes
in three series. The principal amounts, interest rates and other key
terms of the offering will be determined at the time of pricing.
Each series of notes will be the general senior obligation of Activision
Blizzard and will be effectively subordinated to all of Activision
Blizzard's future secured debt, if any, to the extent of the value of
the assets securing such debt. The notes will not be guaranteed by any
of Activision Blizzard's subsidiaries.
Activision Blizzard intends to use the net proceeds from the offering,
together with cash on hand, to permanently prepay $1.2 billion principal
amount outstanding under its term loan "A" facility.
The offering is being made pursuant to an effective registration
statement filed by Activision Blizzard with the Securities and Exchange
Commission on September 7, 2016. BofA Merrill Lynch, J.P. Morgan and
Wells Fargo Securities are acting as joint book-running managers.
The offering may be made only by means of a prospectus and related
prospectus supplement. Potential purchasers of the Notes can obtain
copies of the prospectus and related prospectus supplement from Merrill
Lynch, Pierce, Fenner & Smith Incorporated, at 200 North College Street,
NC1-004-03-43, Charlotte, NC 28255-0001, Attention: Prospectus
Department, or by calling toll-free (800) 294-1322 or by email at dg.prospectus_requests@baml.com;
J.P. Morgan Securities LLC, at 383 Madison Avenue, New York, NY 10179,
Attention: Investment Grade Syndicate Desk, or by calling (212) 834-4533
or by fax at (212) 834-6081; or Wells Fargo Securities, LLC, at 608 2nd
Avenue South, Suite 1000, Minneapolis, MN 55402, or by calling toll-free
(800) 645-3751 or by email at wfscustomerservice@wellsfargo.com.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be any
sales of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
About Activision Blizzard
Headquartered in Santa Monica, California, Activision Blizzard has
operations throughout the world, and its games are played in 196
countries.
Cautionary Note Regarding Forward-looking Statements: The
statements contained in this press release that are not historical facts
are forward-looking statements, including statements regarding
Activision Blizzard's ability to consummate the offering described in
this press release. Forward-looking statements are subject to business
and economic risk, reflect management's current expectations, estimates
and projections about our business, and are inherently uncertain and
difficult to predict. The company cautions that a number of important
factors could cause Activision Blizzard's actual future results and
other future circumstances to differ materially from those expressed in
any forward-looking statements. Such factors include, but are not
limited to, current market demand for these types of securities and the
securities of Activision Blizzard, Activision Blizzard's ability to
consummate the offering in the currently anticipated timeframe or at
all, the negotiations between Activision Blizzard and the underwriters
and the other factors identified in "Risk Factors" included in Part I,
Item 1A of our Annual Report on Form 10-K for the year ended December
31, 2016 and subsequent quarterly reports on Form 10-Q. The
forward-looking statements in this press release are based on
information available to the company at this time and we assume no
obligation to update any such forward-looking statements. Although these
forward-looking statements are believed to be true when made, they may
ultimately prove to be incorrect. These statements are not guarantees of
our future performance and are subject to risks, uncertainties and other
factors, some of which are beyond our control and may cause actual
results to differ materially from current expectations.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170523005881/en/
Activision Blizzard, Inc.
Amrita Ahuja
SVP,
Investor Relations
(310) 255-2075
Amrita.Ahuja@Activision.com
or
Mary
Osako
SVP, Global Communications
(424) 322-5166
Mary.Osako@Activision.com
Source: Activision Blizzard, Inc.
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