An additional existing $1 billion credit facility matures in June 2012. These bank credit facilities provide back-up liquidity for PACCAR’s commercial term papers and medium-term notes. “PACCAR is pleased to renew its credit facility with over twenty of the leading banks and financial institutions worldwide,” said Ron Armstrong, senior vice president.
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Affordability "Products" Lead to Higher Defaults in the O.C.
Even as the housing market began to crack, investment bank Bear Stearns increased its bets on mortgages to Orange County homeowners.
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