COLUMBIA, S.C. - J.P. Morgan & Co. has arranged a $200 million credit facility for Policy Management Systems Corp.

Participants in the facility are units of First Union Corp., Wachovia Corp., BankAmerica Corp., Commerzbank Aktiengesellschaft, Dai-Ichi Kangyo Bank Ltd., NBD Bancorp, Deutsche Bank, and Fuji Bank.

The two-part facility, to be used for general corporate purposes, allows Policy Management Systems access to $100 million for the term of 364 days and an additional $100 million for the term of three years.

The Columbia-based firm provides corporations with applications software and related automation support and information services.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.