Activision credit facility going live next week; CS cuts estimates

|About: Activision Blizzard, Inc (ATVI)|By:, SA News Editor

The $2.5B credit facility Activision (ATVI) plans to use to help buy back 429M of its shares from Vivendi will go live on Sep. 4, Reuters reports.

Activision plans to repurchase the shares by end of Sep. using $4.75B in debt financing and $1.2B in cash on hand. CEO Bobby Koticks is separately buying 172M shares for $2.34B.

Separately, Credit Suisse has cut its 2014 EPS estimate to $1.25 from $1.50, citing a 10-Q disclosure that indicates Activision has changed the status of ~$160M in software development costs from long-term to current.