Dow Jones Real-Time News for InvestorsSM
4:55 p.m. 04/13/2006
Dow Jones Newswires
Covad Communication Group (DVW) obtained a two-year, $50 million senior secured revolving credit facility with Silicon Valley Bank.
The San Jose telecommunications company said the credit facility its available for general corporate purposes.
As part of the transaction, Covad redeemed its existing collateralized customer deposit liability with AT&T Inc. (T).
Covad also withdrew its unused universal shelf registration statement filed with the Securities and Exchange Commission in October.
