PolyOne says it has fully repaid $40 million of outstanding borrowings from Citicorp USA and terminated the related commitments. The $40 million Citicorp revolver and letter of credit facility was scheduled to mature on March 20, 2011. "We have been accumulating cash since the first quarter of 2009. Driven by earnings growth and prudent working capital management, cash has increased to $241 million as of June 30 and liquidity is nearly $400 million," says Robert M. Patterson, senior v.p. and CFO at PolyOne.
展开▼
