Financing

During the 23 years that Clark Hallren worked at JPMorgan Chase & Co., the investment bank went through so many incarnations that the former managing director of the institution's Los Angeles entertainment group jokes that it earned him a reputation of being a "vagabond. " JPMorgan isn't the only thing that underwent tectonic shifts during Hallren's time at the bank, which for years has been a leader in arranging financing for such Hollywood studios as DreamWorks, MGM, Sony Pictures, Warner Bros.

During August, the City of Los Angeles successfully closed four issues of tax-exempt bond financing, representing $20 million in bond financing and 680 units of new and rehabilitated rental housing. Masselin Manor, on the southwest corner of 6th Street and Masselin Avenue, received $3.2 million in financing, one of the largest federal grants made available to support new central city housing development. At least 23 of these units are earmarked for low-income tenants.

Paramount Communications Inc. announced today that seven banks have agreed to serve as co-agents in the syndicate being formed to finance the company's $12.2-billion tender offer for Time Inc. The syndicate of banks will provide 90% of the financing for the $200-a-share unsolicited offer. Paramount has said the syndicate would provide $14 billion of the $15.6 billion estimated financing costs, while the remaining $1.6 billion is to raised through the sale of debt securities. The lack of financing commitments for Paramount's bid is one of the objections raised by Time to the unwanted offer.

Regarding Robert Bruss' Real Estate Q & A column on Sept. 25, the person seeking seller-financing because of a "messy credit problem" due to a co-signed auto loan should be advised if this is the only lapse on his credit report, he should be able to obtain financing through an institutional lender. Perfect borrowers are the exception, not the rule. Lenders deny approval when there is a pattern of untimely payments or ignored obligations, but not for an isolated credit blemish. ANNE ELLIOTT Senior Vice President CUB Funding Calabasas

Is it so surprising after massive, unbelievable fees, insider trading leaks, stockbroker fraud, rigging the Treasury bond auction markets and a general lack of either ethics or regard for the clients' interests that the Los Angeles Convention Center might find it more attractive to deal with a source of financing other than the special bracket and other major investment banking firms? ("Brawl Over Bonds," June 20) Is it any wonder after the S&L collapses and scandal, the troubled condition of many banks and the lack of adequate available bank financing that an organization would look beyond the banking world for financing?

Edudata Corp. in Westlake Village has received a $1.6-million loan from a group of private investors. The financing was provided to satisfy certain outstanding obligations and for working capital and general corporate purposes, Edudata officials said. Edudata designs, manufactures and sells an intraoral video camera system to the dental industry.