Citizens Trust secures $15 million credit line for CSX Corp.

Citizens Trust secures $15 million credit line for CSX Corp.

   Citizens Trust Bank, an African American-owned financial institution with nine offices in Georgia and Alabama, has established a $15 million revolving credit facility for CSX Corp., a major U.S. rail transportation company based in Jacksonville, Fla.

   Michael Ward, chairman, president and chief executive officer of CSX, said the credit facility would increase CSX's ability to issue short-term commercial paper to offset expenses while strengthening its cash availability.

   Citizens Trust is the lead arranger for the credit line, in which 14 banks are participating. The others are The Adams National Bank, Washington, D.C.; EastBank N.A., New York; City National Bank of New Jersey, Newark, N.J.; Legacy Bank, Milwaukee, Wis.; Douglass National Bank, Kansas City, Kan.; State Bank of Texas, Dallas; Highland Community Bank, Chicago; Liberty Bank & Trust Co., New Orleans; United Bank of Philadelphia; Citizens Bank, Nashville, Tenn.; Mutual Community Savings Bank, Durham, N.C.; Carver State Bank, Savannah, Ga.; and the Community Bank of South Carolina, Columbia, S.C.