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Subject:  What's a worldwide cash management facility? Date:  3/19/2001  12:42 PM
Author:  Nemik Number:  884 of 2244

Last month my company's CFO made this public statement.

To repay existing indebtedness and run the business according to our plans, we believe we should put in place a new larger credit facility and a worldwide cash management facility. We are reviewing proposals from three first-tier financial institutions and I am confident we will close with a satisfactory credit and cash management facility by the middle of next month.

What is a "worldwide cash management facility?" What are the implications of my company looking for one?


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