Friday, April 27, 2007

UPDATE 1-Tyco starts buying back debt

(Reuters) - Tyco also said it expects subsidiary Tyco International Group to tender for all of its outstanding euro- and pound-denominated debt, worth about $1.9 billion.

Tyco said on Thursday it entered into three bridge loan facilities and three revolving credit facilities. The aggregate commitment under the bridge loan facilities is $10 billion, and $2.5 billion under the revolving credit facility, rising to $4.25 billion at the time of the break-up.


Read more at Reuters.com Bonds News

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