Palm to repay credit facility with purchase by Hewlett-Packard

By Sara Rosenberg

New York, April 29 - Palm Inc. will repay its existing credit facility in connection with its acquisition by Hewlett-Packard Co., according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The company expects to pay down the bank debt at 101, assuming the acquisition is completed by July 31.

Palm is a Sunnyvale, Calif.-based provider of mobile products.

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