THQ nails down fresh credit agreement

MCV Staff 28th September 2011 Business News

Publisher THQ has agreed terms on a four-year deal with credit agency Wells Fargo Capital Finance.

The new credit facility grants THQ the ability to borrow up to $50m which is secured on assets. This total increases to $75m during peak sales periods”.

The publisher’s previous $35m agreement with Bank of America has been terminated.

”We are pleased to establish this new, larger credit facility with Wells Fargo," THQ’s executive VP and CFO Paul Pucino stated.

"This new line, along with THQ’s capacity to generate strong cash flows, provide the company with substantial financial flexibility as it executes on plans for growth in the coming years."

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