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Activision redeems 5.625% notes due 2021 on Oct. 19 for $1.6 billion
By Susanna Moon
Chicago, Nov. 4 – Activision Blizzard, Inc. redeemed its $1.5 billion of 5.625% senior notes due 2021 on Oct. 19 for $1.6 billion.
The redemption resulted in a loss on extinguishment of debt of about $82 million, consisting of a premium payment of $63 million and write-off of unamortized discount and financing costs of $19 million, according to a 10-Q filing for the quarter ended Sept. 30 with the Securities and Exchange Commission.
The company issued the call on Sept. 19, which then had a 30-day period before payment.
As announced Sept. 14, the company planned to redeem the 5.625% notes at 104.219 using proceeds from a two-part offering of new senior notes.
Activision is a Santa Monica, Calif., publisher of games.
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