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First Data Corp. says it is not using any of a nearly $1.8 billion revolving credit line until it gets nearer to closing its $980 million purchase of Incomm Inc., an Atlanta-based marketer and distributor of gift and prepaid cards (CardLine, 4/28). The balance is zero on the credit line at this time, a First Data spokesperson tells CardLine. In its first-quarter SEC filing, First Data said it expected to use $415 million of its revolving credit to help pay for the acquisition, which is expected to close later this year. Earlier this week, First Data said about $230.6 million of what had been a $2 billion revolving credit line from multiple lenders has evaporated in the wake of bankruptcy of investment bank Lehman Brothers Holdings Inc. (CardLine, 9/22).
