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Technology Stocks : WCOM
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To: BEEF JERKEY who wrote (10132)5/15/2002 1:31:48 PM
From: Softechie  Read Replies (1) of 11568
 
**WCOM WorldCom explains draw down (1.24 unch) -- Update --
Announces that, in coordination with its lead banks, it intends to draw down its $2.65 bln bank credit facility. WCOM is taking this action to preserve its term-out option under the facility until June 2003, as it continues positive negotiations with its lenders on a larger, securitized credit facility. WorldCom intends to repay these funds once new credit facility is closed.
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