ContiFinancial Corp., New York, has increased its commercial paper program from $275 million to as much as $325 million.A letter of credit and reimbursement agreement was co-arranged by Credit Suisse First Boston and Dresdner Kleinwort Benson, with the participation of 13 other major U.S. and foreign banks, ContiFinancial said. Current commitments will allow the company to issue up to $317.5 million of commercial paper. This is in addition to ContiFinancial's $200 million unsecured three-year revolving bank credit facility and its $2.8 billion of committed warehouse facilities, the company said.
Processing Content
