Take-Two Interactive prepays $350M term loan using proceeds from $1.0B senior notes offering

TAKE TWO INTERACTIVE SOFTWARE INC

Prepaid all outstanding term benchmark borrowings totaling $350 million under the 364-day term loan credit agreement.
Payoff funded with proceeds from the company's recent $1.0 billion senior notes offering.
Term loan was scheduled to mature on June 21, 2023; now discharged in full.
Separate unsecured credit agreement dated May 23, 2022 remains in full force and effect.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

TAKE TWO INTERACTIVE SOFTWARE INC terminated Term Loan Credit Agreement with JPMorgan Chase Bank, N.A. valued at $350,000,000 (effective 2023-04-27).

Action: termination
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $350,000,000
Effective: 2023-04-27

Exact text from the filing

On Thursday, April 27, 2023, Take-Two Interactive Software, Inc. (the “ Company ”) prepaid all of its outstanding term benchmark borrowings, in the aggregate principal amount of $350,000,000.00, and other obligations (collectively, the “ Payoff ”), in each case, under that certain 364-day term loan credit agreement, dated as of June 22, 2022 (the “ Term Loan Credit Agreement ”), among the Company, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent thereunder.

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Source: SEC EDGAR

accession 0001193125-23-134419

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