By Angela McDaniels
Tacoma, Wash., Sept. 14 – Activision Blizzard, Inc. priced $1.5 billion of senior notes (Baa2/BBB-/) in a two-part offering, according to a company news release.
The company priced $650 million of 2.3% five-year notes at 99.878 and $850 million of 3.4% 10-year notes at 99.614.
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.
The company will use the proceeds of the Rule 144A and Regulation S offering and cash on hand to redeem all $1.5 billion principal amount of its 5.625% senior notes due 2021 at a redemption price of 104.219 plus accrued interest.
Activision Blizzard is a Santa Monica, Calif.-based video game maker.
| Issuer: | Activision Blizzard, Inc.
|
| Issue: | Senior notes
|
| Amount: | $1.5 billion
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 19
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB-
|
|
|
| Five-year notes
|
| Amount: | $650 million
|
| Maturity: | 2021
|
| Coupon: | 2.3%
|
| Price: | 99.878
|
|
|
| 10-year notes
|
| Amount: | $850 million
|
| Maturity: | 2026
|
| Coupon: | 3.4%
|
| Price: | 99.614
|
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