National Oilwell Varco Gets $3 Billion Credit
National Oilwell Varco Inc. obtained a $3 billion line of credit to help pay for its $7.37 billion purchase of drilling products maker Grant Prideco Inc.
Commitments for the unsecured financing came from Wells Fargo Bank NA and a syndicate of other banks.
The credit line is expected to take effect next week, contingent on the closing of the deal, which was announced in December.
Shares closed up 39 cents at $69.91.
