Activision Blizzard to price senior notes due 2022, 2027, 2047

By Cristal Cody

Tupelo, Miss., May 23 – Activision Blizzard, Inc. intends to price senior notes due 2022, 2027 and 2047, according to a 424B3 filing with the Securities and Exchange Commission on Tuesday.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the bookrunners.

The notes will include make-whole and par calls. The issue also features a change-of-control put at 101%.

Proceeds will be used along with cash on hand to prepay $1.2 billion outstanding under the company’s term loan A facility due Aug. 23, 2021. As of March 31, the loan term carried interest at 2.23% per year.

Activision Blizzard is a Santa Monica, Calif.-based developer and distributor of video game content and services.

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