Summary by Futu AI
Take-Two Interactive Software, Inc. successfully completed an underwritten public offering on June 12, 2024, raising $600 million through the sale of senior notes. The offering included $300 million of 5.400% Senior Notes due in 2029 and $300 million of 5.600% Senior Notes due in 2034. The notes, which are unsecured and rank equally with the company's other unsubordinated obligations, were issued under an existing indenture with The Bank of New York Mellon serving as trustee. Interest on the notes will be paid semi-annually, with the first payment scheduled for December 12, 2024. The company retains the right to redeem the notes at specified redemption prices and must repurchase them at 101% of the principal amount plus accrued interest in the event of a Change of Control Repurchase Event. The proceeds from the offering are intended for general corporate purposes, including the repayment of $600 million of 3.550% Senior Notes due in 2025. The offering was managed by J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, and was announced in a press release on June 10, 2024.