Borders Close To Securing Refinancing

According to a recent report from Reuters, Bookseller Borders Group Inc BGP told publishers in a meeting it was close to securing refinancing from GE Capital and other lenders, the New York Times reported, citing people familiar with the matter. In the meeting Thursday, Borders asked publishers to provide money for a large portion of the company's debt as a loan, the paper said, adding that one publisher said the plan laid out by Borders was not a convincing strategy for turning around the company.