Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Financial Planning > College Planning > Student Loan Debt

Oxford Plans To Borrow $450 Million

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, April 2, 2003, 10:38 a.m. EST – Oxford Health Plans Inc., Trumbull, Conn., says it hopes to borrow $450 million by the end of April.

The managed care company plans to use some of the cash to cover the cost of $208 million in class-action settlement obligations, some to refinance $120 million in existing debt, and some to support its current operations.

Oxford is trying to put together a group of lenders that will supply a $400 million, six-year loan and a $50 million revolving credit facility.

A revolving credit facility is the corporate equivalent of a credit card account.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.