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USOL Holdings Gets Credit Line Breathing Space

AUSTIN-Primary lenders for Austin-based USOL Holdings have signed off on an amended credit line, which puts nearly an extra $2.8 million into the coffer. The credit line is capped at $35 million and comes with stipulations.

By Kimberly Reeves | Updated on March 28, 2001

AUSTIN-USOL Holdings Inc. has been given a sign off on an amended credit agreement that gives the Austin-based firm immediate access nearly $2.8 million more through an expanded credit line now capped at $35 million.

The company’s senior lenders are BNP Paribas, Deutsche Bank AG and Coast Business Credit. The credit line expansion, says USOL Holdings, will be used for capital expenditures. Based on current subscriber counts, the pact adds nearly $2.8 million, resulting in an available borrowing base of about $14.5 million, according to company statements.

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