Ubisoft Sells $445 Million of Bonds to Fund Game Projects
- Bonds are convertible into gamemaker’s shares after five years
- Proceeds may be used for acquisitions, French company says
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Ubisoft Entertainment SA, the French video-game maker trying to fend off the advances of Vivendi SA, sold about 400 million euros ($445 million) of convertible bonds to help finance product development and pay for possible acquisitions.
The five-year bonds were sold to institutional investors in a private placement, the Montreuil, France-based company said in a statement Wednesday.