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BRIEFLY

Banks released their hold on core Warner units.

May 21, 1985

Warner Communications told the SEC that its lenders have released their security interest in the stock of the company's film, record and publishing subsidiaries because Warner has met certain requirements. Warner said that, as of April 30, it had no borrowings under its $250-million revolving credit agreement, compared to $245 million at the end of 1984. Warner said it intends to renegotiate the credit agreement before Sept. 30 "on terms more favorable" to the company. Warner reported a total debt of $623.8 million on March 31, down from $840.5 million last Dec. 31.

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