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THQ raises $100 million from notes sale

Proceeds raised to be used for "general corporate purposes," says the publisher

Phil Elliott avatar
News by Phil Elliott Contributor
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THQ has announced that its recent offer of USD 90 million in convertible senior notes has been taken up, with the additional USD 10 million option also exercised, giving the company USD 100 million in total.

According to a financial release the cash generated by the notes, which are set at 5 per cent and due in 2014, will be used for "general corporate purposes".

The publisher, which has had a troubled past twelve months - a period which saw it cut a number of offices, studios and other staff posts - enjoyed some success in the past quarter with strong sales for its UFC 2009: Undisputed title.

The recent GamesIndustry.biz interview with Danny Bilson, executive VP of core titles for the company, is available now in parts one and two.