[Headlines Only] [Top Stories Only]
Categories
· Business (Tobacco)
Organizations
· MO
· Nabisco

• Philip Morris Takes Out $9 Billion Loan for Nabisco Purchase 

Jump to full article: Bloomberg News, 2000-07-06
Author: Mark Lake

Intro:

Philip Morris Cos. said it got a $9 billion credit line to help finance its $18.9 billion acquisition of Nabisco Holdings Corp.

Chase Manhattan Corp. and Credit Suisse First Boston committed to provide the line, which is not expected to be used by Philip Morris. Instead, the line will act as a backup in case the world's largest tobacco company is unable to issue commercial paper to pay for its cash purchase of Nabisco, according to a spokesman for the company.

Jump to full article »