Microsoft issues $3.39B in new notes to exchange Activision Blizzard debt; $258M remains outstanding

MICROSOFT CORP

Early settlement of exchange offers completed Nov 6, 2023; Microsoft issued five series of new notes totaling $3.389B.
Tendered Activision Blizzard notes: 3.400% 2026, 3.400% 2027, 1.350% 2030, 4.500% 2047, 2.500% 2050.
Remaining outstanding Activision Blizzard notes aggregate $257.9M across all five series.
Supplemental indentures executed to eliminate certain covenants and events of default; registration rights agreement signed.
New Microsoft notes are senior unsecured obligations, ranking equally with other unsubordinated debt.

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