SANTA MONICA, Calif.--(BUSINESS WIRE)--
Activision Blizzard, Inc. (NASDAQ: ATVI) today announced its intention
to offer, in a private transaction, senior unsecured notes in two
series. The interest rates and other key terms of the offering will be
determined at the time of pricing.
Each series of notes will be guaranteed on an unsecured senior basis by
each of Activision Blizzard's subsidiaries that is a guarantor under its
senior credit facilities. Each series of notes will be effectively
subordinated to all of Activision Blizzard's future senior secured debt,
if any, to the extent of the value of the assets securing such debt.
Activision Blizzard intends to use the net proceeds from the offering to
redeem all $1.5 billion aggregate principal amount of its existing
5.625% senior notes due 2021 at a redemption price of 104.219%, plus
accrued and unpaid interest.
The notes and the related guarantees will not be registered under the
Securities Act of 1933 (the "Securities Act") or any state securities
law and may not be offered or sold in the United States absent
registration or an applicable exemption from registration under the
Securities Act and applicable state securities laws. The notes and the
related guarantees will be offered only to persons reasonably believed
to be qualified institutional buyers under Rule 144A of the Securities
Act and outside the United States under Regulation S of the Securities
Act.
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. 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 initial purchasers 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, 2015 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/20160914005671/en/
Activision Blizzard, Inc.
Amrita Ahuja, 310-255-2075
SVP,
Investor Relations
Amrita.Ahuja@Activision.com
or
Mary
Osako, 424-322-5166
SVP, Global Communications
Mary.Osako@Activision.com
Source: Activision Blizzard, Inc.
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