Lehman Brothers Holdings Inc. has closed its $2 billion committed unsecured three-year revolving credit facility, which was substantially oversubscribed with 40 banks participating in it.
According to Paolo Tonucci, global treasurer of Lehman Brothers, the three-year credit facility replaces the existing three-year facility and was successfully co-led by JPMorgan Chase Bank and Citibank with a participant group that include many of the largest banks in the world.
“We are extremely pleased with the success of the syndicated facility and view this as a strong signal from the market and our key bank relationships. Liquidity and capital management continue to be core competencies that have enabled the firm to be well-positioned in challenging environments,” says Tonucci.