First Data revolver drawdown request denied by Lehman

By Sara Rosenberg

New York, Sept. 19 - First Data Corp. had a request denied by Lehman Brothers for a draw under its revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Friday.

First Data's revolver is sized at $2 billion and of that amount, Lehman's commitment is for $230.6 million.

The company said that in the event it decides to draw on the revolver and Lehman doesn't fund its obligation, it would still have sufficient other funding sources to meet short-term and long-term liquidity needs.

First Data is a Greenwood Village, Colo., provider of electronic commerce and payment services.

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