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The new syndicated credit agreements replace various individual bank credit facilities previously extended to GM and GMAC.
Petro's borrowing needs are currently provided pursuant to bank credit facilities, including a $150 million working capital facility (of which $8.
As of June 30, 2004, FPL had $1 billion of available bank credit facilities.
The investor group financed the transaction with equity, along with a $425 million term loan under the Company's amended senior secured bank credit facilities and the private placement of $475 million aggregate principal amount of 8 3/4% Senior Subordinated Notes due 2014.