Lucent obtained much-needed $6.5 billion in credit facilities aft...
Lucent obtained much-needed $6.5 billion in credit facilities after $2 billion line of credit expired at midnight Feb. 22. Lucent CFO Deborah Hopkins called financing “critical element” of company’s restructuring plan. Lucent obtained $4.5 billion of new credit facilities…
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arranged by J.P. Morgan-Salomon Smith Barney, part of which replaces $2 billion credit line that expired Thurs. Remaining $2.5 billion will be assumed by Lucent spinoff Agere Systems when it floats its IPO. Lucent also amended existing $2 billion credit facility that’s due in 2003.