MSFT 8-K — Smart Summary
95% reductionOn October 27, 2023, Microsoft Corporation announced early tender results for its Exchange Offers to swap outstanding Activision Blizzard, Inc. notes for up to $3,650,000,000 aggregate principal amount of new Microsoft-issued notes and cash, alongside related Consent Solicitations to amend governing indentures.
Item 8.01 — Other Events
Debt & Credit Facilities
- Microsoft launched Exchange Offers to exchange any and all outstanding notes issued by Activision Blizzard, Inc. (a wholly-owned subsidiary of Microsoft)
- Exchange consideration consists of (1) up to $3,650,000,000 aggregate principal amount of new notes issued by Microsoft and (2) cash
- Consent Solicitations were made to adopt proposed amendments to each indenture governing the Existing Activision Blizzard Notes
- The New Microsoft Notes have not been registered under the Securities Act of 1933 or any state or foreign securities laws
- Exchange Offers and Consent Solicitations were made pursuant to an Offering Memorandum and Consent Solicitation Statement dated October 16, 2023
- Early tender results were announced on October 27, 2023
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