We advised the representatives of the initial purchasers on the $6.625 billion notes offering

Davis Polk advised the representatives of the several initial purchasers, in connection with a Rule 144A/Regulation S offering by Oak-Eagle AcquireCo, Inc. of $2.875 billion aggregate principal amount of its 7.250% senior secured notes due 2033, €1.08 billion aggregate principal amount of its 6.250% senior secured notes due 2033 and $2.5 billion aggregate principal amount of its 8.750% senior notes due 2034. The proceeds of the offering, together with expected borrowings under certain credit facilities and equity contributions from a consortium of investors consisting of The Public Investment Fund, Silver Lake Group, L.L.C. and Affinity Partners, will be used to fund the consummation of the acquisition of Electronic Arts by the investor consortium. The gross proceeds of the offering were placed into escrow accounts pending the consummation of the acquisition.

Electronic Arts is a global leader in digital interactive entertainment, developing, marketing, publishing and delivering games, content and gaming services to a global network of hundreds of millions of players. During the fiscal year ended March 31, 2025, Electronic Arts generated over $7 billion in revenue.The Public Investment Fund is the sovereign wealth fund of the Kingdom of Saudi Arabia, whose mandate is to invest its assets with the goal of maximizing returns for the benefit of public welfare and to support Saudi Arabia’s economic development. Silver Lake is a global technology investment firm with approximately $117 billion in combined assets under management, and Affinity Partners manages over $6.2 billion with a team of more than 30 professionals.

The Davis Polk capital markets team included partners Michael Kaplan and Daniel P. Gibbons, counsel Joze Vranicar, and associates Sofia Sitterson and Jonathon Gex Artigues. The finance team included partners James A, Florack and Christopher Nairn-Kim, counsel Jeffrey (Man To) Hon and associates Elizabeth Rodgers and Emily (Yuhong) Su. All members of the Davis Polk team are based in the New York office.

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