Infogrames Entertainment enters debt refinancing loan agreement

By Caroline Salls

Pittsburgh, April 24 - Infogrames Entertainment SA entered into a new agreement that extended its €25.5 million of medium-term bank loans to March 31, 2008 and includes new one-year operating credit facilities of €20 million, according to a company news release.

Under the agreement, the company may also offer up to €30 million in local credit facilities in Europe, backed by trade receivables.

The new agreement is part of Infogrames Entertainment's debt refinancing plan and replaces an agreement that deferred the maturities of medium-term bank loans to June 15, 2006.

In a separate agreement with the holders of its 2006 through 2008 notes, the company obtained an extension to June 15 for the first repayment installment of €13.4 million on those notes.

The company said it continues to seek additional refinancing sources for its debt, including trading debt for equity, additional stock offerings and the sale of assets.

Infogrames Entertainment is a computer games company based in Lyon, France.

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