BOOKS

Borders Repays $42.5 Million Loan

06/01/2010 05:12 am ET | Updated May 25, 2011

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.

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