Mad Catz Interactive, Inc.  announced that it entered into new financing facilities with NewStar Business Credit and Faunus Group International, Inc. to provide combined financing on eligible accounts receivable and inventories up to $30.0 million, and increasing to $45.0 million from September 1, 2015 through December 31, 2015.

On June 30, 2015, Mad Catz, Inc., a wholly-owned subsidiary of the company entered into a Loan and Security Agreement (the "Loan Agreement") with NSBC to provide for a $20.0 million revolving line of credit (which increases to $35.0 million from September 1, 2015 through December 31, 2015) subject to the availability of eligible accounts receivable and inventories, which changes throughout the year. The Loan Agreement expires on June 29, 2018.

In addition, on June 30, 2015, Mad Catz Europe Ltd. ("MCE"), a wholly-owned subsidiary of the company, entered into a Master Facilities Agreement (the "Facilities Agreement") with FGI to provide for a $10.0 million secured demand credit facility subject to the availability of eligible accounts receivable and inventories, which changes throughout the year. The Facilities Agreement has a three-year term, although FGI may terminate the facility at any time upon at least three months' notice.

"We are excited by the growth opportunities in fiscal 2016, including the launch of Rock Band 4 this holiday season," said Karen McGinnis, Chief Financial Officer. "These new facilities will provide the financial capacity and flexibility we need to support that growth."

At the closing of the Financing Facilities, the company will use the proceeds to pay in full the obligations outstanding under the credit facility with Wells Fargo Capital Finance, LLC, and the agreement with Wells Fargo will be terminated.

Brooks, Houghton & Company, Inc. served as the company's financial advisor in connection with the transaction.

Mad Catz Interactive, Inc. is a global provider of innovative interactive entertainment products marketed under its Mad Catz® (gaming), Tritton® (audio), and Saitek® (simulation) brands. Mad Catz products cater to passionate gamers across multiple platforms including in-home gaming consoles, handheld gaming consoles, Windows® PC and Mac® computers, smart phones, tablets and other mobile devices.