Lincoln Financial Gets $2 Billion Bank Credit Line
June 3, 2010 by John Ittner
June 03, 2010 | MarketWatch
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June 2, 2010 Wednesday 2:38 PM EST
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HEADLINE: Lincoln Financial gets $2 billion bank credit line
BYLINE: John Ittner
NEW YORK (MarketWatch) — Lincoln Financial Group (LNC) said Wednesday that it had received commitments for a $2 billion bank credit facility, which includes a $1.5 billion credit facility allowing for the issuance of letters of credit expiring in 2015 and a 364-day $500 million credit facility. The $2 billion credit facility will be used primarily to provide letters of credit in support of certain life insurance reserves.
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LOAD-DATE: June 3, 2010