Seagate renegotiates loan terms to ease covenants(0)
In order to increase its “flexibility in meeting its obligations” under its current credit agreement”, Seagate Technology on Friday renegotiated some of the terms of its credit facility with JPMorgan Chase, Morgan Stanley, BNP Paribas, Keybank National, Wachovia and the Bank of Nova Scotia.
The new terms will allow the company’s “net leverage ratio” — basically the amount of debt it may hold divided by its cash and other short-term investments — to rise from Read the rest of this entry »
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