Eng, Meanwhile, how about an extra 6 bill to keep this comedy routine on stage. LOL! Cooters
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AT&T Wireless to raise more than $6 billion
NEW YORK, Feb 9 (Reuters) - AT&T Wireless Group <AWE.N>, the mobile-telephone unit of AT&T Corp., chose J.P. Morgan Chase & Co. <JPM.N> and Bank of America <BAC.N> to arrange $4.0 billion in credit lines, bank sources said.
The lines are comprised of a $2.0 billion 364-day facility and a $2.0 billion five-year facility, bank sources said.
J.P. Morgan Chase & Co. and Bank of America have each committed $400 million to the deal, they said.
AT&T, the biggest U.S. long-distance company, said last month it plans to spin off its wireless unit in mid-year as part of a plan announced in October to split the company into four separate businesses.
AT&T Wireless spokesman David Caouette declined to comment on the financing.
The new credit lines are a traditional commercial paper backstop facility, bank sources said.
At a meeting hosted by J.P. Morgan and Bank of America <BAC.N> in New York on Friday, the lead bankers announced that Bank of Tokyo-Mitsubishi Ltd. had already committed $250 million towards the financing.
17:01 02-09-01 |
