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3/26, 6:06 PM (Source: TeleTrader)
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McDonald's borrows $1B to cope with COVID-19 impact

American fast-food giant McDonald's announced on Thursday that it borrowed $1 billion under a 364-day revolving credit line as it seeks to "reinforce its cash position and provide financial flexibility" amid the ongoing COVID-19 pandemic.

Also, the company notes that it has available "the full $3.5 billion commitment from lenders" under the revolver it entered in late 2018 which remains unborrowed.

The company's stock gained 3.53% mid-session amid a wider surge in stock markets.

Breaking the News / GG