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Metromedia Fiber Gets Additional Funding

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NEW YORK, Aug. 20 -- Metromedia Fiber Networks Inc. has received a conditional agreement from Citigroup Inc. and other lenders for $150 million in financing, bringing its total funding commitments to $330 million. The company said Citicorp agreed to purchase $62.5 million of notes, while other lenders committed to another $87.5 million. Metromedia did not identify the other lenders.    The new funding commitments hinge on several conditions. Metromedia must get $200 million in vendor financing, agreements from certain vendors to defer payment obligations, and commitments for $230 million in...Read full article

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    Published: August 2001
    fiber opticsNews & Features

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