Senior debt

Activision Blizzard Prices $2,000,000,000 of Senior Unsecured Notes

Wednesday, August 5, 2020 - 11:54pm

Activision Blizzard, Inc. (Activision Blizzard or the company) (NASDAQ: ATVI) today announced the pricing of two series of senior unsecured notes in an aggregate principal amount of $2,000,000,000, in a public underwritten offering, consisting of $500,000,000 of 1.350% senior notes due 2030 (the 2030 notes) and $1,500,000,000 of 2.500% senior notes due 2050 (together with the 2030 notes, the notes).

Key Points: 
  • Activision Blizzard, Inc. (Activision Blizzard or the company) (NASDAQ: ATVI) today announced the pricing of two series of senior unsecured notes in an aggregate principal amount of $2,000,000,000, in a public underwritten offering, consisting of $500,000,000 of 1.350% senior notes due 2030 (the 2030 notes) and $1,500,000,000 of 2.500% senior notes due 2050 (together with the 2030 notes, the notes).
  • Activision Blizzard intends to use a portion of the approximately $1.97 billion of net proceeds from the offering to fund the redemption of all of its outstanding 2.3% senior unsecured notes due 2021 and all of its outstanding 2.6% senior unsecured notes due 2022, including in each case the payment of premiums and accrued interest to the redemption date.
  • Activision Blizzard expects to use the remaining net proceeds from the offering for general corporate purposes.
  • Each series of notes will be the general senior obligation of Activision Blizzard and will be effectively subordinated to all of Activision Blizzards future secured debt, if any, to the extent of the value of the assets securing such debt.

Activision Blizzard to Offer Senior Unsecured Notes

Wednesday, August 5, 2020 - 1:54pm

Activision Blizzard, Inc. (Activision Blizzard or the company) (NASDAQ: ATVI) today announced its intention to offer, in a public underwritten transaction, senior unsecured notes in two series (the notes).

Key Points: 
  • Activision Blizzard, Inc. (Activision Blizzard or the company) (NASDAQ: ATVI) today announced its intention to offer, in a public underwritten transaction, senior unsecured notes in two series (the notes).
  • Each series of notes will be the general senior obligation of Activision Blizzard and will be effectively subordinated to all of Activision Blizzards future secured debt, if any, to the extent of the value of the assets securing such debt.
  • Activision Blizzard intends to use a portion of the net proceeds from the offering to fund the redemption of all of its outstanding 2.3% unsecured senior notes due 2021 and all of its outstanding 2.6% unsecured senior notes due 2022, including in each case the payment of premiums and accrued interest to the redemption date.
  • Activision Blizzard expects to use any remaining net proceeds from the offering for general corporate purposes.

Victoria Gold Makes Early Debt Repayment of US$10 Million

Wednesday, August 5, 2020 - 11:00am

WHITEHORSE, Yukon, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (Victoria or the Company), is pleased to announce that, on August 4, 2020, the Company repaid US$10 million toward its senior secured credit facility.

Key Points: 
  • WHITEHORSE, Yukon, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (Victoria or the Company), is pleased to announce that, on August 4, 2020, the Company repaid US$10 million toward its senior secured credit facility.
  • This US$10 million repayment is an early, unscheduled repayment of interest and principal.
  • The Company made its first senior debt repayment on May 31, 2020 (see press release dated June 3, 2020).
  • The substantial free cash flow provided by the wide profit margins we are achieving has put us in a position to accelerate debt repayment.

Element Solutions Inc Announces Pricing of Senior Notes Offering

Tuesday, August 4, 2020 - 11:33pm

The private offering is expected to close on August 18, 2020, subject to customary closing conditions.

Key Points: 
  • The private offering is expected to close on August 18, 2020, subject to customary closing conditions.
  • The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by certain of the Companys existing domestic subsidiaries.
  • The Company has issued a conditional notice of redemption providing for the redemption (the Redemption) of $800 million aggregate amount of its 5.875% senior notes due 2025 (the Existing Notes).
  • No assurance can be given that the offering of the Notes will be completed, or, if completed, as to the terms on which it is completed.

Element Solutions Inc Announces Launch of Senior Notes Offering

Tuesday, August 4, 2020 - 3:05pm

Element Solutions Inc (NYSE:ESI) (the "Company") today announced that it intends to offer $400 million aggregate principal amount of senior notes due 2028 (the Notes) in a private offering, subject to market and other customary conditions.

Key Points: 
  • Element Solutions Inc (NYSE:ESI) (the "Company") today announced that it intends to offer $400 million aggregate principal amount of senior notes due 2028 (the Notes) in a private offering, subject to market and other customary conditions.
  • The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by certain of the Companys existing domestic subsidiaries.
  • The Company intends to use the net proceeds from the sale of the Notes, together with cash on hand, to pay for the partial redemption of its outstanding 5.875% Senior Notes due 2025 (the Existing Notes), including the redemption price plus accrued and unpaid interest, if any, on the Existing Notes being redeemed, along with fees and expenses incurred with the offering of the Notes and the redemption of the Existing Notes.
  • No assurance can be given that the offering of the Notes will be completed, or, if completed, as to the terms on which it is completed.

Avis Budget Group Announces Pricing of $350 Million of Senior Notes

Tuesday, August 4, 2020 - 1:00pm

PARSIPPANY, N.J., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the Company) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the Issuers), priced an offering of $350 million aggregate principal amount of 5.75% senior notes due 2027 (the Notes) in a private offering.

Key Points: 
  • PARSIPPANY, N.J., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the Company) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the Issuers), priced an offering of $350 million aggregate principal amount of 5.75% senior notes due 2027 (the Notes) in a private offering.
  • The Notes will be issued as additional notes under the Indenture, dated as of July 3, 2019, pursuant to which the Issuers previously issued $400 million aggregate principal amount of 5.75% Senior Notes due 2027.
  • The closing of the offering of the Notes is expected to occur on August 6, 2020, subject to customary closing conditions.
  • The Notes were priced at 92% of their face value and will be guaranteed on a senior unsecured basis by Avis Budget Group, Inc. and certain of its U.S. subsidiaries.

Avis Budget Group Announces Intention to Offer $350 Million of Senior Notes

Monday, August 3, 2020 - 1:08pm

PARSIPPANY, N.J., Aug. 03, 2020 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the Company) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the Issuers), intend, subject to market and other customary conditions, to offer $350 million aggregate principal amount of 5.75% senior notes due 2027 (the Notes) in a private offering.

Key Points: 
  • PARSIPPANY, N.J., Aug. 03, 2020 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the Company) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the Issuers), intend, subject to market and other customary conditions, to offer $350 million aggregate principal amount of 5.75% senior notes due 2027 (the Notes) in a private offering.
  • The Notes are being offered as additional notes under the Indenture, dated as of July 3, 2019, pursuant to which the Issuers previously issued $400 million aggregate principal amount of 5.75% Senior Notes due 2027.
  • The Notes will be guaranteed on a senior unsecured basis by Avis Budget Group, Inc. and certain of its U.S. subsidiaries.
  • The Company intends to use the net proceeds from the Notes offering to redeem the outstanding $100 million in aggregate principal amount of the Issuers 5.50% Senior Notes due 2023, with the remainder to be used for general corporate purposes.

United Rentals Announces Pricing of Offering of $1.1 Billion of 3.875% Senior Notes due 2031

Friday, July 31, 2020 - 9:12pm

United Rentals, Inc. (NYSE: URI) (URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), has priced an offering of $1.1 billion principal amount of 3.875% Senior Notes due 2031 (the Notes) in a registered public offering.

Key Points: 
  • United Rentals, Inc. (NYSE: URI) (URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), has priced an offering of $1.1 billion principal amount of 3.875% Senior Notes due 2031 (the Notes) in a registered public offering.
  • URNAs obligations under the Notes will be guaranteed on a senior unsecured basis by URI and certain of URNAs domestic subsidiaries.
  • Aggregate net proceeds from the sale of the Notes are expected to be approximately $1.087 billion after underwriting discounts and commissions and payments of estimated fees and expenses.
  • United Rentals is a member of the Standard & Poors 500 Index, the Barrons 400 Index and the Russell 3000 Index and is headquartered in Stamford, Conn. Additional information about United Rentals is available at unitedrentals.com.

United Rentals Announces Proposed Offering of $1.1 Billion of Senior Notes Due 2031

Friday, July 31, 2020 - 1:27pm

United Rentals, Inc. (NYSE: URI) (URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), is offering $1.1 billion principal amount of Senior Notes due 2031 (the Notes) in a registered public offering.

Key Points: 
  • United Rentals, Inc. (NYSE: URI) (URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), is offering $1.1 billion principal amount of Senior Notes due 2031 (the Notes) in a registered public offering.
  • URNAs obligations under the Notes will be guaranteed on a senior unsecured basis by URI and certain of URNAs domestic subsidiaries.
  • Aggregate net proceeds from the sale of the Notes are expected to be approximately $1,087 million after underwriting discounts and commissions and payments of estimated fees and expenses.
  • United Rentals is a member of the Standard & Poors 500 Index, the Barrons 400 Index and the Russell 3000 Index and is headquartered in Stamford, Conn. Additional information about United Rentals is available at unitedrentals.com.

Charter Prices $1.5 Billion Senior Unsecured Notes

Wednesday, July 22, 2020 - 3:03am

STAMFORD, Conn., July 21, 2020 /PRNewswire/ --Charter Communications, Inc. (NASDAQ: CHTR) (alongwith its subsidiaries, "Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. (collectively, the "Issuers"), have priced $1.5 billion in aggregate principal amount of senior unsecured notes due 2031 (the "Notes").

Key Points: 
  • STAMFORD, Conn., July 21, 2020 /PRNewswire/ --Charter Communications, Inc. (NASDAQ: CHTR) (alongwith its subsidiaries, "Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. (collectively, the "Issuers"), have priced $1.5 billion in aggregate principal amount of senior unsecured notes due 2031 (the "Notes").
  • The Notes will form a part of the same series as the Issuers' senior unsecured notes due 2031 issued on July 9, 2020, which bear interest at a rate of 4.250% per annum.
  • The Issuers intend to use the net proceeds from the sale of the Notes for general corporate purposes, including to repay certain indebtedness under the Issuers' existing senior notes (including to potentially redeem all of the Issuers' 5.875% senior notes due 2024), and to fund potential buybacks of Class A common stock of Charter or common units of Charter Communications Holdings, LLC and to pay related fees and expenses.
  • Charter expects to close the offering of the Notes on July 24, 2020, subject to customary closing conditions.