In Brief: Lexmark International In $400M Credit Pact

GREENWICH, Conn. - Lexmark International Inc., said it negotiated a new $400 million loan from a syndicate led by J.P. Morgan & Co. that will provide greater flexibility for strategic acquisitions.

The financing reduces interest costs, substantially increases the company's revolving line of credit, and provides far more flexibility in the use of the funds.

Lexmark reduced its total debt to $290 million by yearend 1994 from its original debt of $950 million when the company became independent of International Business Machines Corp.

The agreement enables Lexmark, a manufacturer of printers, typewriters, and other information processing supplies to refinance the $150 million bank debt portion of its total $290 million debt and increase its available revolving credit to $250 million from $150 million.

"We are already discussing possible acquisitions and alliances with other companies to broaden Lexmark's product lines and to improve our market position for future growth," said chairman Marvin L. Mann.

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