Oak-Eagle AcquireCo extends tender offer deadline for Electronic Arts senior notes

WILMINGTON, Del., July 15. Oak-Eagle AcquireCo, Inc. extended the expiration time and settlement date on cash tender offers for Electronic Arts Inc.'s 1.850% Senior Notes due 2031 and 2.950% Senior Notes due 2051, the company announced Tuesday. The offers seek to purchase any and all of both note series for cash and are accompanied by consent solicitations.

The extension

Oak-Eagle AcquireCo, the designated offeror, gave no revised expiration time or settlement date in Tuesday's release, and disclosed no participation data from the original offer period. The announcement confirms the original structure remains intact: cash for any tendered notes, with consent solicitations running alongside each offer.

What the offer structure means

The "any and all" framing commits Oak-Eagle AcquireCo to buying every note tendered if the offers succeed, with no cap on volume.

Consent solicitations allow the offeror to seek bondholder approval to amend the note indentures. Amendments of this type typically modify covenants that would otherwise constrain the acquiring entity after a transaction closes.

The notes targeted

Electronic Arts issued two series named in the offers. The 1.850% Senior Notes come due in 2031. The 2.950% Senior Notes mature in 2051, extending the maturity profile by two decades relative to the shorter series. Both are designated as senior notes.

Oak-Eagle AcquireCo disclosed no reason for the extension in Tuesday's announcement.