NEWS - Thursday, October 25, 2007

Atari Secures $10 million Credit Facility

The company said funds affiliated with BlueBay Asset Management, a significant shareholder in Infogrames, had purchased all of the $3 million of loans outstanding under the company’s credit facility with Guggenheim Corporate Funding, and that it had entered into a senior secured credit facility with BlueBay High Yield Investments. ‘The Senior Secured Credit Facility waives and amends certain provisions of the Guggenheim Credit Facility, increases the availability to $10 million, eliminates the borrowing base requirements and certain prepayment fees, and extends the maturity of the outstanding borrowings to December 31, 2009’, Infogrames said in a statement. "This revised credit facility is a major step in addressing Atari’s liquidity needs and providing financing to support its near term business plan," said Atari’s chief restructuring officer, Curt G. Solsvig III. However, the company said that the $10 million, which will help to build inventory for the 2007 calendar holiday season and for day-to-day working capital needs, does not fully satisfy Atari’s funding requirements and additional financing is being sought.


Site Statistics

Registered Members: 43,985
Forum Posts: 725,147
Xbox One Titles: 657
Xbox 360 Titles: 1,084
Xbox 360 Kinect Titles: 95
Xbox 360 Arcade Titles: 583
Xbox Titles: 847
Staff Reviews: 1,449
Member Reviews: 10,339
News Articles: 13,092
Screenshots: 28,876
Xbox 360 Achievements: 45,112
Xbox 360 Faceplates: 2,016
Cheat Codes: 1,706

Latest News

See News Archives

Community Forum Activity

Games with Gold for November - Count me in
Post by TheOutcast-XBA
1 Replies, 50 Views

Xbox One Edition Limitee Borderlands The Handsome Collection
Post by oryanphine
1 Replies, 53 Views

Xbox One Edition Limitee et controllers
Post by oryanphine
3 Replies, 81 Views

GOW 4 Horde Credit and XP Earn Rate Updates
Post by Nato King
1 Replies, 83 Views

Post by Nato King
1 Replies, 73 Views

Red Dead Redemption 2 releasing Fall 2017
Post by Nato King
5 Replies, 126 Views

Xbox One S Protoype Zebra
Post by oryanphine
3 Replies, 171 Views

Xbox One South Korea Edition Limitee Mother Pearl
Post by oryanphine
1 Replies, 108 Views

Xbox One Official China Edition limitee Lunar New Year Monkey 2016
Post by oryanphine
2 Replies, 122 Views

Xbox Play Anywhere Set up.
Post by Nato King
6 Replies, 189 Views

CONTEST! Win a copy of Worms W.M.D.!
Post by Variation-XBA
9 Replies, 366 Views

The Gears of War 4 Live Broadcast Airs Today
Post by Nato King
7 Replies, 223 Views

Post by Nato King
9 Replies, 269 Views

Spoiler: First 12mintues of Battlefield 1
Post by Nato King
9 Replies, 258 Views

Custom Xbox Addict Controller!
Post by Variation-XBA
8 Replies, 331 Views

© 2000-2016 - All rights reserved. All trademarks are properties of their respective owners.
Xbox is a registered trademark of Microsoft. is not affiliated with Microsoft.

Made in Canada
Site Design by Cameron Graphics