Press release
Take-Two Interactive Software, Inc. Announces Early Tender Results and Increase in Tender Cap for 3.300% Senior Notes Due 2024
NEW YORK--(BUSINESS WIRE)-- Take-Two Interactive Software, Inc. (NASDAQ: TTWO) (the “Company”) announced today the early tender results for the previously
About this update from Take-two Interactive Software, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nTake-Two Interactive Software, Inc. (NASDAQ: TTWO) (the “Company”) announced today the early tender results for the previously announced cash tender offer (the “Tender Offer”) to purchase up to $500,000,000 aggregate principal amount of its outstanding 3.300% Senior Notes due 2024 (the “Notes”) and that it has amended the Tender Offer by increasing the maximum aggregate principal amount of Notes that may be purchased in the Tender Offer to $650,000,000 (as amended, the “Tender Cap”).\n\n\nThe following table sets forth some of the terms of the Tender Offer:\n\n\n\n\nTitle of\n\n\n\n\nSecurity\n\n\n\n\n\n\nCUSIP / ISIN\n\n\n\n\nNumber\n\n\n\n\n\n\nPrincipal\n\n\n\n\nAmount\n\n\n\n\nOutstanding\n\n\n\n\n\n\nTender Cap\n\n\n\n\n(Principal\n\n\n\n\nAmount)\n\n\n\n\n\n\nReference\n\n\n\n\nU.S.\n\n\n\n\nTreasury\n\n\n\n\nSecurity\n\n\n\n\n\n\nFixed\n\n\n\n\nSpread\n\n\n\n\n\n\nPrincipal\n\n\n\n\nAmount\n\n\n\n\nTendered at\n\n\n\n\nEarly Tender\n\n\n\n\nDeadline\n\n\n\n\n\n\nPrincipal\n\n\n\n\nAmount\n\n\n\n\nAccepted\n\n\n\n\n\n\nProration\n\n\n\n\nFactor(1)\n\n\n\n\n\n\n\n\n3.300%\n\n\n\n\nSenior\n\n\n\n\nNotes\n\n\n\n\ndue\n\n\n\n\n2024\n\n\n\n\n\n\n874054AE9 /\n\n\n\n\nUS874054AE98\n\n\n\n\n \n\n\n\n\n\n\n$1,000,000,000\n\n\n\n\n\n\n$650,000,000\n\n\n\n\n\n\n2.25%\n\n\n\n\nUST due\n\n\n\n\nMarch 31,\n\n\n\n\n2024\n\n\n\n\n\n\n0 bps\n\n\n\n\n\n\n$676,243,000\n\n\n\n\n\n\n$650,000,000\n\n\n\n\n\n\n96.13%\n\n\n\n\n\n\n\n(1) Rounded to nearest hundredth of a percentage point.\n\n\nThe Tender Offer commenced on May 18, 2023 and will expire at 5:00 p.m., New York City time, on June 16, 2023, unless extended or earlier terminated by the Company (the “Expiration Date”). The terms and conditions of the Tender Offer are described in the Offer to Purchase, dated May 18, 2023, as amended by this press release (as it may be further amended or supplemented from time to time, the “Offer to Purchase”). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Offer to Purchase.\n\n\nAs of 5:00 p.m., New York City time, on June 1, 2023 (the “Early Tender Deadline”), according to information provided by D.F. King & Co., Inc., the information agent and tender agent for the Tender Offer, $676,243,000 aggregate principal amount of the Notes had been validly tendered and not validl...