Square Enix has announced that is has secured a ¥35 billion ($386 million) zero-coupon convertible bond.
These bonds can be changed to shares before they mature, according to KBC Securities Japan analyst Hiroshi Kamide.
The Dragon Quest and Final Fantasy maker already has around ¥80 billion in ready cash, and a debt of ¥50 billion that needs to be repaid in November 2010, reports Kotaku.
"So this new ¥35 billion bond is helping them repay it — swapping an old debt with a new one," said Kamide. "The cost of borrowing monies is so low in the world at the moment that Square Enix is being opportunistic in raising funds on the cheap today, just in case it feels like shopping for something."
Square Enix purchased Eidos last year following a failed bid to acquire Tecmo, which later merged with Dynasty Warriors publisher Koei.