GameStop Corp has announced today that it will be redeeming $125 million in a principal amount of their 6.75% Senior Notes due in 2021 on 11th December 2020. This voluntary early redemption will approximately cover 63% of the outstanding notes.
The notes that will be selected for the redemption will be redeemed at the redemption price of 100 percent of the principal amount plus the unpaid and accrued interest up to but also excluding the redemption date of 11th December 2020.
The U.S Bank National Association will be making the selection of Notes for redemption as a trustee on the basis of pro rata, by lot, or by other methods that are considered appropriate and fair by the trustee. Notes that will be selected for the redemption are needed to be surrendered to the trustee in exchange for the payment for the redemption price as described in detail in the notice of redemption that has been sent to the registered holders of the Notes that are selected for the redemption.
GameStop Corp. is one of the Fortune 500 companies with its headquarters in Grapevine, Texas. It is a video game retailer giant that operates in more than 5,000 stores in more than 10 countries. The company has the best selection of both new as well as pre-owned video gaming consoles, accessories, and also video game titles in both physical as well as digital formats.