Lincoln Financial Media Parent Gets New Credit Facility
June 3, 2010 at 5:08 AM (PT)
LINCOLN FINANCIAL MEDIA parent LINCOLN NATIONAL has obtained a new $2 billion credit facility to replace the company's current facility, which is set to expire in 2011.
The company plans to use the new credit line to support life insurance reserves. Pres./CEO DENNIS GLASS said that if market conditions are favorable, the company may be able to accelerate payback of the $950 million it borrowed from the TARP bailout program.