Activision Blizzard Prices Private Offering Of $2.25 Bln Senior Notes

(RTTNews) - Activision Blizzard, Inc. (ATVI) announced the pricing of $1,500 million aggregate principal amount of 5.625% senior notes due 2021 and $750 million aggregate principal amount of 6.125% senior notes due 2023. The offering is expected to close on or about September 19, 2013.

Activision said the Notes will be the general senior obligations of the company and will be fully and unconditionally guaranteed on a senior basis by certain of the company's U.S. subsidiaries. The Notes and related guarantees will not be secured.

The company said it plans to use the net proceeds of the offering, along with cash on hand and proceeds from borrowings to finance the consideration to be paid by the company to Vivendi S.A., a société anonyme organized under the laws of France in connection with the transactions contemplated by the stock purchase agreement entered into on July 25, 2013 among the Company, Vivendi and ASAC II LP, an exempted limited partnership established under the laws of the Cayman Islands and acting by ASAC II LLC, its general partner.

Activision also said it intends to use the net proceeds to pay the company's fees and expenses incurred in connection with the Transactions.