REDWOOD CITY, Calif. (AP) — Video game publisher Electronic Arts Inc. said Thursday it plans a private placement of $550 million in convertible debt.
Electronic Arts said it will issue senior notes that mature on July 15, 2016. The buyers will have an option to buy another $82.5 million in notes to cover any over allotments. The notes can be converted into cash and Electronic Arts stock.
On Monday Electronic Arts said it will buy PopCap Games, a company that makes games for smartphones and social networks. Electronic Arts agreed to pay at least $750 million for PopCap, which makes the popular "Bejeweled" series and "Plants vs. Zombies" games.
Shares of Electronic Arts fell 30 cents, or 1.3 percent, to $23.61 in morning trading Thursday.
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