Zynga May Borrow Up To $1 Billion in New Revolving Credit Agreement, Revised IPO Filing Says
August 11th, 2011
Zynga set up a revolving credit agreement in July, allowing it to borrow up to $1 billion in revolving loans, according to an amended IPO filing released today. This could help the company make big ticket acquisitions, especially as it looks to break into mobile gaming. It could also help the company buy time if it wants to wait for better market conditions for its IPO.
改訂された新規公募ファイリングは言います。
2011年8月11日
Zyngaは7月に回転信用契約を定め、今日リリースされた改正された新規公募ファイリングによるとそれがリボルビング・ローンの中で最高10億ドルまでを借りることを可能にしました。
特に、それが、モバイルゲームの中に壊れることを考える時に、これは会社が高価取得物を得るのを手助けすることができました。
それが、その新規公募のためによりよい市況を待ちたいならば、それは会社が時間をかせぐのを手助けすることもできました。
The company paid upfront fees of $2.5 million and is required to pay commitment fees of up to $625,000 a quarter based on the portion of the credit facility it draws down. Morgan Stanley, which is also the lead bookrunner on the company’s forthcoming IPO, is managing the agreement. The interest rate on the loans are tied to daily interbank rates and can also change depending on how much debt Zynga has relative to its EBITDA.
The company didn’t say what the credit facility was for. However, with the $996 million in cash and cash equivalents the company carried on its balance sheet at the end of March, the $1 billion facility could go toward helping Zynga make some very large acquisitions. We had heard that Storm8 and Zynga had had some initial talks before the mobile-social gaming company started looking more seriously at funding options, and AllThingsD said that the company may have looked at Rovio as a potential target.
Such deals would represent a major shift for the company, which has to date focused on smaller talent-sized acquisitions that would be below or around the $10 million range. The most the company has publicly disclosed it paid for a company was the $53.3 million in cash and stock it spent on Words With Friends-maker Newtoy.
The revised IPO filing also shows that Zynga paid $7.5 million for an acquisition in July. It’s not clear if this is the company the filing is referring to, but Zynga acquired Toronto’s Five Mobile that month.
ありがとうございます!