April 19, 2023
On April 10, Take-Two Interactive Software, Inc. announced that it agreed to sell in an underwritten public offering $1.0 billion aggregate principal amount of its Senior Notes, consisting of $500 million of its 5.000% Senior Notes due 2026 and $500 million of its 4.950% Senior Notes due 2028.
Take-Two intends to use the net proceeds from the offering to repay in full its outstanding term loan, which has a principal balance of $350 million as of December 31, 2022 and matures on June 21, 2023, and the remainder for general corporate purposes.
In 2022, Willkie advised Take-Two on its $12.7 billion acquisition of Zynga, and previously represented the company in its acquisitions of mobile game developer Playdots, simulation game Kerbal Space Program and mobile game developer Social Point, as well as in the launch of NBA 2K eLeague.
Headquartered in New York City, Take-Two Interactive Software is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. The company develops and publishes products principally through Rockstar Games, 2K, Private Division, and Zynga. The Company’s products are designed for console systems, personal computers, and Mobile, including smartphones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services.
The Willkie team was led by partners Adam Turteltaub and Sean Ewen and included associates Candace Mashel and Emily Tu.
