Atari secures 15 million dollar revolving credit facility
In an even bigger attempt to get back on track, game giant Atari has secured a US $15 million revolving credit facility. Despite sounding like a brand new US $15 administrative building which has the ability to move, it’s actually something a lot more boring, but also something which could secure the future of Atari and see a lot more titles coming from the guys that brought you classics like Pac Man as well as a long run of classic home videogame console.
According to our source, “Revolving credit involves a customer paying a commitment fee in order to use the funds as necessary”. Atari are paying a company called Guggenheim Corporate Funding to use their credit facility to fund its current and “reasonably foreseeable future” capital requirements.
In English, it means that Atari will have up to $15 million worth of credit available to them should they need it in order to develop bigger, better games for a developing games industry. With that large amount, we sure can expect equally humongous games coming from this company in the future.
Via NextGen.biz
In an even bigger attempt to get back on track, game giant Atari has secured a US $15 million revolving credit facility. Despite sounding like a brand new US $15 administrative building which has the ability to move, it’s actually something a lot more boring, but also something which could secure the future of Atari and see a lot more titles coming from the guys that brought you classics like Pac Man as well as a long run of classic home videogame console.
According to our source, “Revolving credit involves a customer paying a commitment fee in order to use the funds as necessary”. Atari are paying a company called Guggenheim Corporate Funding to use their credit facility to fund its current and “reasonably foreseeable future” capital requirements.
In English, it means that Atari will have up to $15 million worth of credit available to them should they need it in order to develop bigger, better games for a developing games industry. With that large amount, we sure can expect equally humongous games coming from this company in the future.
Via NextGen.biz