Oak-Eagle AcquireCo Finalizes Electronic Arts Debt Buyout

The offer targeted Electronic Arts’ 1.850% senior notes due 2031 and 2.950% senior notes due 2051. According to data from the depositary, Global Bondholder Services Corporation, investors tendered approximately $68.83 million of the 2031 notes and $7.92 million of the 2051 notes by the July 30 deadline. Each series of notes originally carried a total principal amount of $750 million.

For the notes remaining in the market, the company has completed a defeasance process. By depositing U.S. Government Obligations into a trust, Electronic Arts has secured the funds necessary to cover future principal and interest payments for non-tendered debt. This maneuver releases the company from specific restrictive covenants tied to the original indenture. J.P. Morgan Securities LLC acted as the dealer manager throughout the solicitation process.