Take-Two amends $100 million revolving credit facility, cuts interest

By Tali Rackner

Norfolk, Va., Feb. 12 – Take-Two Interactive Software, Inc. entered into an amendment to its $100 million revolving credit facility with Wells Fargo Capital Finance, LLC as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The company lowered interest rates by 25 basis points to Libor plus 125 bps to 175 bps, depending on its 30-day average liquidity. The prior range was Libor plus 150 basis points to 200 bps.

The amendment also increases the uncommitted portion of available borrowings under the credit facility to $100 million from $40 million, resulting in the aggregate principal amount of the credit facility being subject to increase to $200 million from $100 million.

The Thursday amendment also revised certain terms and definitions.

Take-Two is New York-based interactive entertainment software company.

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