Gamestop Plans To Buy Back Its Bonds
INDUSTRY NEWS posted on 8 FEB 2008 by Jim Zabek
GameStop Corp. (NYSE: GME), the world’s largest video game and entertainment software retailer, today announced that its Board of Directors authorized the buyback of up to $130 million of the Company’s Senior Notes.
GameStop Corp. (NYSE: GME), the world’s largest video game and entertainment software retailer, today announced that its Board of Directors authorized the buyback of up to $130 million of the Company’s Senior Notes.
“We are pleased that the Board has authorized this program as our debt represents a very attractive investment opportunity,” indicated R. Richard Fontaine, Chairman and Chief Executive Officer. “Our strong cash flow gives GameStop the ability to paydown debt even as we continue to aggressively expand our business worldwide.”
Under the program, GameStop may purchase debt from time to time in compliance with SEC regulations and other legal requirements, and subject to market conditions and other factors. The repurchase program does not hold any specific limitations and may be suspended or terminated at any time.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any notes or any other securities, nor will there be any sale of the notes or any other security in a jurisdiction in which such an offer or sale would be unlawful.
Featured Site
Name of Site