GameStop’s $216.4 Million Exchange Offer


Simpson Thacher represented the dealer managers and solicitation agents in connection with an exchange offer and consent solicitation by GameStop.

GameStop Corp. (“GameStop”) executed an exchange offer and consent solicitation in which approximately $216.4 million of outstanding aggregate principal amount of 6.75% Senior Notes due 2021 were exchanged for an equal amount of 10% Senior Secured Notes due 2023.

Approximately 52% of the 6.75% Senior Notes due 2021 were validly tendered and not validly withdrawn prior to the expiration date. The exchange offer settled on July 6, 2020.

GameStop is the world’s largest video game retailer, operates approximately 5,300 stores across 14 countries, and offers the best selection of new and pre-owned video gaming consoles, accessories and video game titles, in both physical and digital formats.

Simpson Thacher represented the dealer managers and solicitation agents, led by J.P. Morgan Securities LLC and BofA Securities, Inc., with a team including Art Robinson (Picture), Marisa Stavenas, Benjamin Heriaud, Richard Ragusa, Elise Quinones and Joshua Harris (Capital Markets); Soogy Lee and Jonathan Pall (Security and Collateral); Nancy Mehlman and Gal Shemer (Tax); Genevieve Dorment and Bobbie Burrows (Intellectual Property); Michael Isby (Environmental); Jennifer Neilsson (Executive Compensation and Employee Benefits); and Andrew Pagliughi (Blue Sky).

Involved fees earner: Bobbie Burrows – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Joshua Harris – Simpson Thacher & Bartlett; Benjamin Heriaud – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Hyang-Sook Lee – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Elise Quinones – Simpson Thacher & Bartlett; Richard Ragusa – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Gal Shemer – Simpson Thacher & Bartlett; Marisa Stavenas – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Bank of America Securities; J.P. Morgan Securities LLC;

Author: Ambrogio Visconti