WASHINGTON (dpa-AFX) - Video-game publisher Take-Two Interactive Software, Inc. (TTWO) said Wednesday that it plans to offer $250 million of convertible senior notes due 2018.
The company also expects to grant the underwriters an option to purchase up to $37.5 million of additional notes to cover over-allotments.
The company will use a portion of the net proceeds from the offering to redeem all of its outstanding 4.375% Convertible Senior Notes due 2014, or, if applicable, pay the cash portion of any settlement for notes surrendered for conversion prior to the redemption date.
The remaining proceeds will be used for general corporate purposes, which may include acquisitions and other strategic investments, the refinancing of indebtedness and the purchase by the company of its common stock pursuant to the company's stock repurchase program.
Copyright RTT News/dpa-AFX
© 2013 AFX News
