June 13, 2013
Take-Two Interactive Software, Inc. prices $250 million of 1.00% Convertible Senior Notes due 2018.
On June 13, Willkie client Take-Two Interactive Software, Inc. announced the pricing of $250 million of 1.00% Convertible Senior Notes due 2018. Additionally, the company has granted the underwriters the option to purchase up to an additional $37.5 million of notes on the same terms and conditions to cover over-allotments. J.P. Morgan, Barclays and Wells Fargo Securities are acting as joint book-running managers for the offering, which is expected to close on June 18.
Separately, Take-Two Interactive announced that on June 12 a notice of redemption was distributed to holders of the company’s 4.375% Convertible Senior Notes due 2014. The redemption of all of the company’s outstanding 4.375% Convertible Senior Notes due 2014 is scheduled to occur on August 29, 2013.
Based in New York City, Take-Two Interactive is a leading developer, marketer and publisher of interactive entertainment for consumers around the globe. The company develops and publishes products through its two wholly owned labels Rockstar Games and 2K. Earlier this year, Willkie represented Take-Two Interactive in its acquisitions of the World Wrestling Entertainment Inc. video game franchise and "Evolve" (working title) video game title from THQ Inc.
The current deal was handled by partners Adam Turteltaub, Laura Delanoy, Leslie Mazza, Jeffrey Goldfarb and Christopher Peters; of counsel Jack Habert and Martin Miller; associates Howard Block, Veronica Ng, Laura Acker and Meredith Levy and summer associate Douglas Hollins.
