Take-Two Interactive has decided to sell bonds for a significant amount. It plans to raise $600 million from the sale of securities for "general corporate purposes."
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According to the press release, almost the entire amount will go towards payments on previously issued bonds.
Selling bonds is a standard practice for Take-Two. The company last sold bonds in January 2024, but the amount was nearly half as much, totaling $350 million. One of the largest sales was in April 2022, when Take-Two raised $2.7 billion to partially fund the acquisition of Zynga.