Willis Makes Credit Agreement
NU Online News Service, Dec. 5, 1:05 p.m. EST?Willis Group Holdings said it has established a $600 million credit agreement, consisting of a $450 million 5-year term loan facility and a $150 million revolving credit facility.[@@]
The new credit facilities are unsecured and subject to investment grade terms.
The facilities replace the company's existing bank loan facility, which the company repaid in November.
Proceeds of the new facilities will be used to retire the company's outstanding senior subordinated notes and for general corporate purposes.
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