Microsoft Launches $3.65 Billion Exchange for Activision Debt
- New notes issued by Microsoft, cash will replace old notes
- Activision will start consent solicitations as part of deal
The early tender date for the offer is October 27, at which time bondholders would be eligible to receive the total exchange consideration.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Microsoft Corp. has kicked off an exchange offer for Activision Blizzard Inc.’s outstanding debt as part of its acquisition of the game and entertainment software company.
The world’s largest software maker will replace the Activision securities currently held by bondholders with up to $3.65 billion of new notes and a cash consideration, according to a statement.