Bloomberg News

Electronic Arts Obtains $500 Million Credit Line From Four Banks

August 30, 2012

Electronic Arts Inc. (EA:US), the second- largest U.S. video-game publisher, obtained a $500 million revolving line of credit.

The unsecured debt, which comes due Feb. 29, 2016, may be increased by as much as $250 million, the company said today in a regulatory filing. The financing is arranged by JPMorgan Chase & Co, BNP Paribas SA, Citigroup Inc. and Morgan Stanley, according to the filing.

Proceeds of the loan for the Redwood City, California-based company will support corporate purposes. The maker of “Madden NFL” and “Medal of Honor” has become the largest publisher of games that are free to play on mobile devices, according to Frank Gibeau, president of the company’s EA Labels.

In a revolving line of credit, money may be borrowed again once it is repaid. Activision Blizzard Inc. (ATVI:US) is the largest U.S. publisher of video games.

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.


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

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

Max 250 characters

Companies Mentioned

  • EA
    (Electronic Arts Inc)
    • $36.04 USD
    • -0.80
    • -2.22%
  • ATVI
    (Activision Blizzard Inc)
    • $22.98 USD
    • -0.20
    • -0.89%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus