Andy O'Brien, JPMorgan's co-head of syndicated leveraged finance, and Tom Cassin, a managing director at the firm, helped arrange the financing arrangement.
That financing arrangement sounds crazy.
It related to a dispute over the bank's financing arrangement with Cash Call.
A transitional financing arrangement would be put in place for the period 2010-2015.
"They are a normal financing arrangement," Mr. Harrison said in a conference call with analysts.
Even as they approved the financing arrangement, members of both parties said the that fight had gone too far.
That financing arrangement was an eerie forerunner of his plan to recapitalize Colonial Bank by investing $300 million.
Foreign ministers of the six Common Market nations are now preparing to sign the new financing arrangement.
This is a lesson for all deal lawyers: When negotiating the current financing arrangement, think ahead to the next one.
"Coming up with a viable financing arrangement is definitely one of the biggest challenges," Mr. Barnett of AstroPower said.
Joint financing arrangement is an arrangement in which two or more lenders make separate loans simultaneously to supply the funds required by one applicant.
