EA shores up $1 billion in credit for T2 takeover

By Patrick Garratt, Saturday, 10 May 2008 12:54 GMT

EA’s secured a $1 billion credit line to aid it with its proposed $2 billion takeover.

The cash is being fronted by Morgan Stanley, BNP Paribas and The Bank of Nova Scotia, among others, and can be accessed any time up to January 9, 2009.

“This is a process point on something we had disclosed earlier when we made the offer,” said EA spokesperson Jeff Brown. “It is just financing for the tender offer if we still need it.”

More here.

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