NEXTEL Message Board - Msg: 6213447

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Technology Stocks : NEXTEL

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To: Bernie Diamond who wrote (8117)	10/29/1998 3:11:00 PM
From: NewsTrader	of 10227

(NewsTraders) -- Nextel Communications (NXTL) has obtained $195 million of additional secured financing, according to an 8K filing at the SEC Thursday. The wireless telecom operator said it amended its existing credit facility on October 28, and has already drawn down the additional funds. As a result of the agreement, Nextel's credit pact provides for an aggregate of $3.195 billion of secured financing (consisting of a $1.5 billion revolving loan and $1.695 in term loans), subject to the waiver of applicable borrowing conditions. The borrowing under the facility is ratably secured by liens on assets of Nextel's subsidiaries. The lending institutions include Chase Manhattan Bank; Morgan Guarantee Trust Co.; Nationsbank N.A.; Toronto Dominion Bank; Barclays Bank; and Morgan Stanley Senior Funding.

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