Kukla's Korner Hockey

Kukla's Korner Hockey

Report- NHL Increases Their Credit

09/30/2014 at 12:26pm EDT

from Scott Shoshnick of Bloomberg,

The National Hockey League closed a $1.4 billion credit facility, which is more than double the previous amount, according to a person with direct knowledge of the matter.

The person requested anonymity because the league didn’t disclose the lending pool, which was led and structured by Citigroup Inc. (C) and closed yesterday. The facility includes 20 banks and 20 investors, the person said.

NHL spokesman Frank Brown and Citi spokeswoman Natalie Marin declined to comment on the facility.

Among the 11 teams that tapped the facility are the Stanley Cup champion Los Angeles Kings, Chicago Blackhawks and New Jersey Devils, the person said, adding that three so-called parking spots are being reserved for other potential borrowers.

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

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