Activision Blizzard, Inc. Announces Private Offering of $1.0 Billion Senior Secured Notes, $1.5 Billion Senior Notes
The Notes will be general senior obligations of the Company and will be fully and unconditionally guaranteed on a senior basis by certain of the Company's current U.S. subsidiaries. The 2020 Notes and the related guarantees will be secured by a first-priority security interest in substantially all of the Company's assets and the assets of each subsidiary guarantor, including but not limited to (a) pledges of all the equity interests held by the Company and each subsidiary guarantor and (b) a first-priority security interest in, and mortgages on, substantially all of the present and after-acquired assets of the Company and each subsidiary guarantor. The 2021 Notes and 2023 Notes and related guarantees will not be secured.
The Company intends to use the net proceeds of the offering, along with
cash on hand and proceeds from borrowings under senior secured credit
facilities to be entered into concurrently with the completion of this
offering, to: (i) finance the consideration to be paid by the Company to
The Company plans to offer the Notes and related guarantees in a private
offering that is exempt from the registration requirements of the
Securities Act of 1933, as amended (the "Securities Act"). The Company
plans to offer the Notes and related guarantees within
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
About
Forward-looking statements:
This press release contains forward-looking statements including, but not limited to, those relating to the proposed offering, the Transactions and the entry into senior secured credit facilities and whether or not the Company will commence or consummate the proposed offering or the other transactions described herein. The forward-looking statements in this release are based upon information available to the Company as of the date of this release, and the Company assumes 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 the future performance of the Company and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.
SVP
of Investor Relations and Treasurer
(310) 255-2635
ksouthey@activision.com
or
SVP, Corporate Communications
(310)
255-2704
mlataif@activision.com
Source:
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