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THQ arranges increased credit facility with Wells Fargo.

TELECOMWORLDWIRE-September 28, 2011-THQ arranges increased credit facility with Wells Fargo(C)1994-2011 M2 COMMUNICATIONS

THQ Inc (NASDAQ:THQI), a developer and publisher of interactive entertainment software, has agreed a new credit facility with Wells Fargo Capital Finance LLC, the company said today.

The four-year, asset-based credit facility provides for borrowings up to USD50m for working capital requirements, letters of credit and other general corporate purposes, increasing to USD75m during the upcoming peak sales period.

THQ has terminated its previous USD35m credit agreement with Bank of America. The company has no borrowings or letters of credit outstanding under the Bank of America facility.

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Date:Sep 28, 2011
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