Summary by Moomoo AI
Take-Two Interactive Software, Inc. has announced the offering of $350 million in aggregate principal amount of senior notes. The offering is divided into two tranches: $50 million of 5.000% Senior Notes due 2026, and $300 million of 4.950% Senior Notes due 2028. These notes will be unsecured obligations and will rank equally with all other existing and future unsecured and unsubordinated indebtedness. The interest on the notes will be paid semi-annually in arrears, with the first interest payment for the new notes to be made on March 28, 2024. Interest will accrue from September 28, 2023. The notes are being offered through a syndicate of underwriters led by J.P. Morgan, with Wells Fargo Securities, BNP PARIBAS, and BofA Securities as joint passive bookrunners, and the offering is expected to close on or about January 8, 2024. The proceeds from the offering are intended for general corporate purposes, including the retirement of Take-Two's 3.300% Senior Notes due 2024.