Circuit City Announces New Senior Revolving Credit Facility Jul 9, 2003

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Circuit City Stores, Inc. announced that it has entered into a four-year, U.S. $500 million senior revolving credit facility with Fleet Retail Group, a unit of FleetBoston Financial, serving as lead arranger for the transaction. According to the company, the credit facility is secured by inventory and assets arising out of the sale of inventory and replaces $210 million in unsecured committed lines of credit. The new facility primarily will finance working capital needs, but also provides flexibility for general corporate purposes, said the company.

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