Grubb & Ellis Company.Grubb & Ellis Company has entered into a senior secured credit facility with an aggregate principal value of up to $50 million with a syndicate of financial institutions arranged by Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The new credit facility, which has a five-year term, replaces a $35 million credit facility that was due to expire in 2001. Grubb & Ellis plans to use the proceeds of the credit facility for future acquisition and the repurchase of common stock, as well as capital expenditures and other general corporate purposes. The new line of credit is made up of a $25 million reducing revolver line, an uncommitted $15 million increase to the reducing revolver and a $10 million revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. line. Participants in the senior secured credit facility include Bank of America, N.A., American National Bank and Trust Company of Chicago and LaSalle Bank LaSalle Bank Corporation is the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. With $116 billion in assets, it is headquartered at 135 South LaSalle Street in Chicago, Illinois. , N.A. |
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