Williams raises more cash

US energy company Williams has obtained a five-year, $400 million unsecured credit facility from investment bank Citigroup and has also sold $23 million of further assets from its power division.

The firm, based in Tulsa, Oklahoma, plans to use the new credit facility mainly for issuing letters of credit. It will be an alternative to Williams’ existing$800 million line of credit, which requires cash collateralisation.

“Under the terms of the new $400 million facility, we do not have to c

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