BankAmerica Corp. and four other banks have secured more than $300 million in commitments for the $600 million vendor financing for Northern Telecom, surprising many syndicated lenders.

Many bankers were initially cool to the deal-which was fully and equally underwritten by BankAmerica, Bank of Nova Scotia, Barclays de Zoete Wedd, J.P. Morgan & Co., and Royal Bank of Canada. These lenders were believed to be waiting to participate in a similar but larger vendor financing package expected for Lucent Technologies.

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