GameStop Gets New $500 Million Asset-Based Credit Facility

GameStop Gets New $500 Million Asset-Based Credit Facility
A GameStop store is seen in the Jackson Heights neighborhood of New York City, on Jan. 27, 2021. Nick Zieminski/Reuters
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GameStop Corp. said on Thursday it entered into an agreement with a syndicate of banks for a new $500 million global asset-based credit facility to improve its liquidity.

The five-year credit agreement replaces GameStop’s existing one of $420 million, which was due in November 2022, the company said, adding that the facility would reduce borrowing costs and allow more flexibility.