Activision Blizzard Inc Announces Private Offering Of $1.0 Billion Senior Secured Notes, $1.5 Billion Senior Notes

Tuesday, 3 Sep 2013 07:30am EDT 

Activision Blizzard, Inc. announced that, subject to market and other conditions, Activision Blizzard (the Company) plans to offer $1.0 billion aggregate principal amount of senior secured notes due 2020 (the 2020 Notes), $1.0 billion aggregate principal amount of senior notes due 2021 (the 2021 Notes) and $500.0 million aggregate principal amount of senior notes due 2023 (the "2023 Notes" and, together with the 2020 Notes and the 2021 Notes, the Notes). The Company intends to use the net proceeds of the offering, along with cash on hand and proceeds from borrowings under senior secured credit facilities to be entered into concurrently with the completion of this offering, to: (i) finance the consideration to be paid by the Company to Vivendi S.A., a société anonyme organized under the laws of France (and together with its affiliates, "Vivendi") in connection with stock purchase transactions (the "Transactions") previously announced among the Company, Vivendi and ASAC II LP, an exempted limited partnership established under the laws of the Cayman Islands and acting by ASAC II LLC, its general partner; and (ii) pay the Company's fees and expenses incurred in connection with the Transactions. The Completion of this offering is conditioned upon the consummation of the Transactions and the closing of the senior secured credit facilities.