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Borders Repays $42.5 Million Loan

First Posted: 06/01/10 06:12 AM ET Updated: 05/25/11 05:00 PM ET

Borders

The New York Times:

The Borders Group said late Wednesday that it had repaid a $42.5 million loan from William A. Ackman's Pershing Square Capital Management, its largest investor, and secured a new $700 million credit line from Bank of America and other banks. The struggling bookseller said it had also closed on a new $90 million term line.

Read the whole story: The New York Times

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Filed by Jessie Kunhardt  |