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To: UnBelievable who wrote (58682)1/17/2001 1:47:28 PM
From: patron_anejo_por_favor  Read Replies (1) | Respond to of 436258
 
Looks like more bad paper is about to hit the fan (way to go, BAC...do these guys make ANY loans that get paid back?)

biz.yahoo.com

DEBT PAYMENT COMING DUE

The remainder of January is critical for Loews.

The company is out of compliance with a credit agreement with about 20 lenders including Deutsche Bank AG , Credit Suisse First Boston , Bank of America (NYSE:BAC - news) and The Bank of New York (NYSE:BK - news). Its latest waiver expires January 26.

Loews has a $13.3 million payment due February 1 on $300 million of senior subordinated notes maturing in August 2008. The notes' terms allow Loews to declare its Canadian, but not its U.S., operations bankrupt without going into default.