Take-Two completes $600 million senior notes offering due 2029 and 2034
Take-Two Interactive Software completed a $600 million underwritten offering of senior unsecured notes on June 12, 2024, split evenly between 5.400% notes due 2029 and 5.600% notes due 2034. The company said it plans to use the net proceeds for general corporate purposes, including repaying its $600 million 3.550% senior notes due 2025 at or before maturity, so the deal mainly refinances existing debt.
- $300 million of 5.400% senior notes mature June 12, 2029, and $300 million of 5.600% senior notes mature June 12, 2034.
- Interest is paid semi-annually on June 12 and December 12, starting December 12, 2024.
- Proceeds are intended for general corporate purposes, including repaying the $600 million 3.550% senior notes due 2025.
- If a change of control repurchase event occurs, holders can require repurchase at 101% of principal plus accrued interest.