Sign up for our newsletter - Navigating the horizon of business technology​
Technology / AI and automation

AOL SECURES $200M CREDIT FACILITY

America Online Inc has secured a two-year $200m senior secured revolving line of credit, effective immediately, through a syndicate of commercial lenders in a transaction managed by Chase Manhattan Bank with Dai-Ichi Kangyo as co-agent. About a month ago, AOL announced the sale of a new issue of $350m worth of 4.0% convertible subordinated notes due November 15, 2002. AOL says the credit wasn’t secured for anything in particular, and will be used mainly as working capital. As of September 30, the company had cash and cash equivalents totaling $228.9m.

White papers from our partners


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.