Live Entertainment Signs $100-Million Credit Pact
Live Entertainment, a Van Nuys home video and recorded music distributor and retailer, said it and its Live Home Video subsidiary signed a $100-million revolving credit agreement with Credit Lyonnais Bank Nederland and Chemical Bank. The agreement is an amendment to an existing $50-million credit facility with Credit Lyonnais and extends through January, 1992, Live said.
Under the increased credit line, the two banks will provide $60 million, and the remaining $40 million is expected to come from a group of domestic and foreign banks, Live said.
The company said it plans to use the loan for working capital needs, such as the acquisition of video rights to films.
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