AOL's Board Authorizes Additional $150 Mln Share Repurchase - Quick Facts

(RTTNews) - Web service company AOL Inc. (AOL), Monday said its Board authorized an additional $150 million for share repurchase, after the previous buyback of 1.4 million shares of common stock at an average price of $35.65 or $50 million in aggregate.

Along with this, AOL's Board has authorized a five-year secured $250 million revolving credit facility with a syndicated bank lending group, led by JP Morgan Chase Bank, N.A.

Executive Vice President and CFO, Karen Dykstra of AOL said, "...The oversubscribed credit facility underscores the debt market's receptiveness to AOL and significantly improves our financial flexibility to allocate capital to our strategic priorities, as well as continue our track record of returning capital to our shareholders."