Take-Two Interactive decided to raise additional funds. She announced that she intends to sell $1 billion worth of bonds as part of a new public offering.
Of this amount, the company will spend $350 million to repay the loan. The rest of the money will be used for “general corporate purposes”. By them, Take-Two means, among other things, the repayment of other loans.
This is not the first time Take-Two sells bonds for a large amount. In April 2022, she thus received $2.7 billion, which she used to partially pay for the purchase of Zynga (in total, Take-Two spent $12.7 billion on the takeover of the company).