In Brief: Credit Suisse Leads Backup for L.A. County

LOS ANGELES - Credit Suisse is leading six banks in a $1.3 billion letter of credit for Los Angeles County.

The deal gives potential buyers of the county's notes added security as the county deals with its budget crisis, said Larry Monteilh. the county treasurer.

"Looking at everything in the market, we decided to be on the prudent side and have it enhanced," Mr. Monteilh said.

The letter of credit will be the first used by the county for a tax and revenue anticipation note issue.

*** Banks Said to Boost Loan for Gypsum Deal

CHARLOTTE, N.C. - First Union Corp. and NationsBank Corp. have reportedly increased their loan for Delcor Inc. to $625 million from $545 million.

Delcor, the family investment vehicle of C.D. Spangler, will use the facility for its acquisition of National Gypsum Co.

The loan, reportedly divided into three tiers, is expected to be priced the London interbank offered rate plus 250 basis points on the revolving credit and A-term loan, and Libor plus 300 on the B-term facility.

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