Take-Two Interactive prepays $350 million term loan borrowings

By Marisa Wong

Los Angeles, May 3 – Take-Two Interactive Software, Inc. prepaid on April 27 all of its outstanding term benchmark borrowings, in the aggregate principal amount of $350 million, under its 364-day term loan credit agreement dated June 22, 2022, according to an 8-K filing with the Securities and Exchange Commission.

Once the payoff was completed, the company’s obligations under the term loan were paid off and discharged in full.

JPMorgan Chase Bank, NA was administrative agent under the credit agreement, which was scheduled to mature on June 21, 2023.

The company used proceeds of its recent $1 billion senior notes offering to fund the prepayment.

Take-Two is a New York-based developer, publisher and marketer of interactive entertainment.

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