Activision Blizzard to Offer Senior Unsecured Notes
September 14 2016 - 8:21AM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160914005671/en/
Activision Blizzard, Inc.Amrita Ahuja, 310-255-2075SVP,
Investor RelationsAmrita.Ahuja@Activision.comorMary Osako,
424-322-5166SVP, Global CommunicationsMary.Osako@Activision.com
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