Summary by Futu AI
On January 8, 2024, Take-Two Interactive Software, Inc. successfully completed an add-on offering of $350 million in senior notes. This offering included $50 million of 5.000% Senior Notes due in 2026 and $300 million of 4.950% Senior Notes due in 2028. These new notes were issued under the same terms as the existing notes from previous offerings, with the exception of the issuance date and initial offering price. The notes are unsecured and rank equally with the company's other unsubordinated obligations. Interest on these notes is paid semi-annually and they are not subject to sinking fund payments. The company retains the right to redeem the notes at any time at specified redemption prices. In the event of a default, the notes may become due immediately. The proceeds from the offering are intended for general corporate purposes, including the retirement of the company's 3.300% Senior Notes due in 2024. The offering was made under an effective shelf registration statement and managed by J.P. Morgan Securities LLC as the lead book-running manager.