Royster-Clark obtains commitment for $225 million facility

New York, Oct. 6 - Royster-Clark Inc. said it obtained a commitment for a new $225 million credit facility to replace its existing bank arrangements.

Banks for the new loan are US Bank, Bank of America and CIT Business Credit.

The three-year facility will be secured by inventory, receivables and other collateral.

Terms are "substantially similar" to the existing facility, the New York fertilizer, seed, crop protection and agronomic services company said.

Royster-Clark's existing facility expires in April 2004.

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