NEW YORK, Oct 1 (Reuters) - AOL Inc has terminated its secured credit agreement, according to a regulatory filing released on Friday.
The company said it canceled a $250 million senior secured revolving credit facility from Bank of America because of its current cash balance and projected cash flow from operations.
AOL said it did not borrow under the terms of the credit facility, which was set to expire on Dec. 8, 2010.
AOL did not pay any penalties as a result of the early termination.
(Reporting by Jennifer Saba; Editing by Richard Chang)
((Jennifer.Saba@thomsonreuters.com; 1 646 223-6173; Reuters Messaging: jennifer.saba.reuters.com@reuters.com)) Keywords: AOL/ (Visit http://blogs.reuters.com/mediafile/ for more coverage at the Reuters MediaFile blog) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The company said it canceled a $250 million senior secured revolving credit facility from Bank of America because of its current cash balance and projected cash flow from operations.
AOL said it did not borrow under the terms of the credit facility, which was set to expire on Dec. 8, 2010.
AOL did not pay any penalties as a result of the early termination.
(Reporting by Jennifer Saba; Editing by Richard Chang)
((Jennifer.Saba@thomsonreuters.com; 1 646 223-6173; Reuters Messaging: jennifer.saba.reuters.com@reuters.com)) Keywords: AOL/ (Visit http://blogs.reuters.com/mediafile/ for more coverage at the Reuters MediaFile blog) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.