May 7, 2009 (FinancialWire) — Entertainment software firm THQ Inc. (NASDAQ: THQI) said it has signed a commitment letter for a $35 million senior secured credit facility with Bank of America, NA (NYSE: BAC).

The new credit facility will provide THQ with a revolving line of credit for working capital and other corporate purposes and will be secured by the company’s assets.

THQ said that the revolving loans will bear interest, at THQ’s option, at the base rate plus a spread of 1% to 2.5%, or LIBOR plus 2.5% to 4%, depending on the company’s fixed charge coverage ratio. The credit line is scheduled to be completed by July 5.

Company CFO Paul Pucino said that the facility is “a prudent backup to our $141 million cash and short-term investment balance at March 31, 2009.”

Agoura Hills, California-based THQ is a developer and publisher of interactive entertainment software. The company sells its products through a network of offices in North America, Europe and Asia Pacific.

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