Atari Moves Credit Facility to BlueBay

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Atari has managed to transfer some of its corporate debt obligations.
Essentially, Atari has opened a new credit facility with BlueBay High Yield Investments that has purchased Atari's old debt ($3 million of loans owed to Guggenheim Corporate Funding under Atari's credit facility) with new debt. The new credit facility with BlueBay has a longer maturity (until the end of 2009) and allows Atari to borrow up to $10 million while easing certain requirements. Of course, while Atari did not specify such, those kind of arrangements are generally accompanied by a dramatic increase in the interest rate of such a facility. Atari noted that it still needs additional funding.

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This page contains a single entry by Editor published on October 24, 2007 4:42 PM.

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