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Oak-Eagle AcquireCo, Inc. Announces Pricing Terms for the Previously Announced Tender Offers and Consent Solicitations for Any and All of Electronic Arts Inc.'s 1.850% Senior Notes Due 2031 and 2.950% Senior Notes Due 2051
Prnewswire· 2026-02-25 22:29
Core Viewpoint - Oak-Eagle AcquireCo, Inc. has announced pricing terms for tender offers and consent solicitations for Electronic Arts Inc.'s senior notes, which are part of a larger acquisition plan involving a merger agreement [1][2]. Group 1: Tender Offers and Consent Solicitations - The tender offers are for Electronic Arts Inc.'s 1.850% Senior Notes due 2031 and 2.950% Senior Notes due 2051, with a total outstanding principal amount of $750 million for each series [1]. - The tender offers are conditioned upon the closing of the acquisition of Electronic Arts as per the merger agreement dated September 28, 2025 [1][2]. - The withdrawal deadline for the tender offers was set for February 24, 2026, and any notes tendered after this date cannot be withdrawn [1]. Group 2: Pricing Information - The pricing for the 1.850% Senior Notes includes a total consideration of $920.71 per $1,000 principal amount for notes tendered by the early tender deadline, and $870.71 for those tendered after [1]. - For the 2.950% Senior Notes, the total consideration is $744.06 for early tenders and $694.06 for later tenders [1]. - The settlement date for the tender offers is scheduled for March 16, 2026, unless extended or terminated [2]. Group 3: Proposed Amendments - The consent solicitations aim to obtain approvals for proposed amendments to the indenture, which would eliminate certain restrictive covenants and events of default [2]. - If the requisite consents are received, the proposed amendments will apply to any notes not purchased in the tender offers [2]. - The company may also consider defeasing the remaining notes, allowing holders to continue receiving interest and principal payments while removing certain covenants [2].