FNN Gets Short-Term Bank Loan: Financial News...

FNN Gets Short-Term Bank Loan: Financial News Network Inc. said Security Pacific National Bank and Toronto-Dominion Bank of Canada have agreed to an additional $4-million credit line for the cable-TV channel and approved a waiver regarding default on $49.5 million in bank debt. FNN expected that the bank credit line, which is subject to certain conditions, will be sufficient to meet the network’s working capital requirements until a buyer is found. The financially troubled business news TV channel has put itself up for sale, and bids are expected to be submitted shortly.