Monday, September 16, 2013
Activision Blizzard Gets $2.5 Billion Term Loan
Santa Monica-based videogame maker Activision Blizzard said late Friday evening that it has syndicated a new, $@.5 billion term loan, to help fund the company's split from Vivendi. Activision Blizzard said the funding, plus cash on hand, is going towards its payments to separate itself from Vivendi S.A., and come in conjunctin with another $2.25M in unsecured notes. The company said so far it expects to owe $4.75 billion in the combination of those loans with a weighted average interst rate of less than 5%. Activision Blizzard and Vivendi said in July that they would be splitting of Activision Blizzard into its own independent company.