In Brief: 1st Union Arranges $90M for Jet Maker

ANNAPOLIS, Md. - First Union Corp.'s capital markets group has arranged a new $90 million credit agreement for UNC Inc., a jet engine manufacturer based here.

UNC said the credit agreement, which will replace its current revolving credit, is for five years. Proceeds from the loan will be used to fund working capital needs and for other general corporate purposes.

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