E*Trade closes $250 million credit facility

By E. Janene Geiss

Philadelphia, Oct. 7 - E*Trade Financial Corp. said Friday that it completed a three-year $250 million senior secured revolving credit facility.

Company officials said the facility will be used for general purposes, which could include funding of transaction-related expenses and regulatory capital needs associated with the company's acquisition of Harrisdirect and the planned acquisition of BrownCo. Harrisdirect and BrownCo are online investment brokerages.

The New York-based company provides brokerage and banking services in the United States.

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