informa
1 min read
article

THQ Reveals New $75M Credit Facility

THQ has announced a new four-year, asset-based credit facility that will provide the company with borrowings of up to $50 million for working capital requirements, with a limit of $75 million during peak sales periods.
THQ has announced a new four-year, asset-based credit facility that will provide the company with borrowings of up to $50 million for working capital requirements. The credit facility is from Wells Fargo Capital Finance. As part of the new facility, THQ has now terminated its original $35 million credit agreement with the Bank of America. The company noted that, during the upcoming peak sales period, the maximum borrowing total will be raised to $75 million. THQ executive vice president Paul Pucino said of the move, "We are pleased to establish this new, larger credit facility with Wells Fargo." "This new line, along with THQ's capacity to generate strong cash flows, provides the company with substantial financial flexibility as it executes on plans for growth in the coming years." THQ revealed earlier this month that the next title in its Homefront first-person shooter series will be developed by Crysis developer Crytek.

Latest Jobs

Treyarch

Playa Vista, California
6.20.22
Audio Engineer

Digital Extremes

London, Ontario, Canada
6.20.22
Communications Director

High Moon Studios

Carlsbad, California
6.20.22
Senior Producer

Build a Rocket Boy Games

Edinburgh, Scotland
6.20.22
Lead UI Programmer
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more