Metris obtains $125 million term loan

By Sara Rosenberg

New York, June 27 - Metris Companies Inc. has successfully funded the one-year, $125 million term loan agreement announced earlier this month. The company used a portion of the proceeds to repay today the $100 million term loan due June 30, 2003.

The new term loan facility will carry an annual interest rate of 12% plus performance payments based on the excess spread in the Metris Master Trust.

Metris is a Minnetonka, Minn. provider of financial products and services.

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