Oak-Eagle Extends Tender Offer Deadline for Electronic Arts Notes

The offer, originally set to expire on July 15, now carries a new expiration time of 5:00 P.M. New York City time on July 30, with settlement rescheduled for August 4. This adjustment applies to the 1.850% senior notes due 2031 and the 2.950% senior notes due 2051. While the withdrawal deadline remains fixed at February 24, 2026, the company continues to solicit consents for proposed amendments to the underlying indenture, which include removing certain restrictive covenants and events of default.

These financial maneuvers are part of a broader acquisition deal led by an investor consortium comprising The Public Investment Fund, Silver Lake, and Affinity Partners. While the tender offers are conditioned upon the closing of the merger, the merger itself is not dependent on the success of these debt transactions. To date, approximately $68.8 million of the 2031 notes and $7.9 million of the 2051 notes have been tendered. Any remaining notes not purchased by the offeror may face future defeasance or other acquisition methods at the company’s discretion.