Bloomberg News

Zynga Gets $100 Million Loan Financing for Corporate Purposes

July 30, 2012

Zynga Inc. (ZNGA:US), the biggest developer of games played on Facebook Inc.’s social network, obtained a $100 million term loan to be used for general corporate purposes.

The debt, expiring June 30, 2017, will pay interest at 75 basis points more than the London interbank offered rate, the San Francisco-based company said today in a regulatory filing.

Zynga said it has a $1 billion revolving line of credit that it received a year ago. As of June 30, the company hadn’t drawn the credit.

A basis point is 0.01 percentage point. In a term loan, money can’t be borrowed again once it’s repaid.

To contact the reporter on this story: Krista Giovacco in New York at kgiovacco1@bloomberg.net.

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net.


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • ZNGA
    (Zynga Inc)
    • $3.24 USD
    • 0.12
    • 3.7%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus