PHILIPS DUPONT UNIT ARRANGES 145 MLN DLR CREDIT
Philips DuPont Optical Co is arranging a
145 mln dlr, three-year transferable loan facility, Chemical
Bank International Ltd said as agent.
    The financing involves a 70 mln dlr loan which is available
for drawing in the six months after signing and a 75 mln dlr
revolving credit, which is available for the life of the
credit.
    Drawings under both tranches will be at 17.5 basis points
over the London Interbank Offered Rate. There will be a
utilisation fee of five basis points on the revolving credit if
more than 50 pct is used and a commitment fee of 7.5 basis
points.
    Borrowings will be available in currencies other than
dollars and banks have been invited to join as lead managers at
15 mln dlrs for 7.5 basis points and as managers at 7.5 mln
dlrs for five basis points.
    The borrower is an optical disk joint venture between
Philips Gloeilampenfabrieken NV and E.I. Du Pont de Nemours and
Co.
 REUTER
