MCI seeks new $750 million to $1 billion revolver

By Sara Rosenberg

New York, Aug. 9 - MCI Inc. plans to establish a new revolving credit facility sized in the area of $750 million to $1 billion to replace its letter-of-credit facilities, support letter-of-credit requirements and increase liquidity, according to a 10-Q filed with the Securities and Exchange Commission.

Currently, the company has a $150 million letter-of-credit facility that is due in April 2005. As of June 30, $115 million was outstanding under the facility that is led by JPMorgan Chase Bank, Citibank and Bank of America.

MCI is an Ashburn, Va., communication company.

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