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Companies drawing down credit lines

Current Events, Financial Crisis

Some companies tapping into credit lines:
- Hilton - $1.8 billion
- Wynn Resorts - $850 million
- Air France-KLM - $1.2 billion
- Kraft Heinz - $4 billion
- Royal Caribbean - $2.8 billion

Reasons:
- Drying up of revenue
- Drying up of bond market
- Still need to pay expenses
- Drying up of commercial paper market
- Potential credit freeze in near future

Links
Big Firms Draw Down Billion Dollar Credit Lines
Businesses Face a New Coronavirus Threat: Shrinking Access to Credit
US companies eye credit lines as pandemic worsens, uncertainty soars
Banks scramble as companies rush to tap back-up credit lines

Posted: 2020-03-21 12:10:16


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