Tyco in talks for a new $2.5 billion credit facility

By Sara Rosenberg

New York, Nov. 6 - Tyco International Ltd. has begun negotiations for a new $2.5 billion credit facility to replace the company's existing facility, according to a news release.

The new loan would consist of a three-year revolver and a 364-day revolver.

Currently, the company has a $1.5 billion undrawn 364-day revolver set to expire at the end of January 2004 and a $2 billion drawn five-year revolver due to expire in February 2006.

Tyco is a Bermuda-based diversified manufacturing and service company.

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