Activision Blizzard to Offer Senior Unsecured Notes
May 23 2017 - 8:52AM
Business Wire
Activision Blizzard, Inc. (NASDAQ: ATVI) today announced its
intention to offer, in a public underwritten transaction, senior
unsecured notes in three series. The principal amounts, interest
rates and other key terms of the offering will be determined at the
time of pricing.
Each series of notes will be the general senior obligation of
Activision Blizzard and will be effectively subordinated to all of
Activision Blizzard’s future secured debt, if any, to the extent of
the value of the assets securing such debt. The notes will not be
guaranteed by any of Activision Blizzard’s subsidiaries.
Activision Blizzard intends to use the net proceeds from the
offering, together with cash on hand, to permanently prepay $1.2
billion principal amount outstanding under its term loan “A”
facility.
The offering is being made pursuant to an effective registration
statement filed by Activision Blizzard with the Securities and
Exchange Commission on September 7, 2016. BofA Merrill Lynch, J.P.
Morgan and Wells Fargo Securities are acting as joint book-running
managers.
The offering may be made only by means of a prospectus and
related prospectus supplement. Potential purchasers of the Notes
can obtain copies of the prospectus and related prospectus
supplement from Merrill Lynch, Pierce, Fenner & Smith
Incorporated, at 200 North College Street, NC1-004-03-43,
Charlotte, NC 28255-0001, Attention: Prospectus Department, or by
calling toll-free (800) 294-1322 or by email at
dg.prospectus_requests@baml.com; J.P. Morgan Securities LLC, at 383
Madison Avenue, New York, NY 10179, Attention: Investment Grade
Syndicate Desk, or by calling (212) 834-4533 or by fax at (212)
834-6081; or Wells Fargo Securities, LLC, at 608 2nd Avenue South,
Suite 1000, Minneapolis, MN 55402, or by calling toll-free (800)
645-3751 or by email at wfscustomerservice@wellsfargo.com.
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, including statements
regarding Activision Blizzard’s ability to consummate the offering
described in this press release. 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 underwriters 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, 2016 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/20170523005881/en/
Activision Blizzard, Inc.Amrita AhujaSVP,
Investor Relations(310)
255-2075Amrita.Ahuja@Activision.comorMary
OsakoSVP, Global Communications(424)
322-5166Mary.Osako@Activision.com
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