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DEBT AND EQUITIES
Lakes Entertainment Inc., Minnetonka, has closed on an agreement for a two-year, interest-only $8 million nonrevolving line-of-credit with First State Bank of Arkansas. The loan is at 8.95 percent interest. Upon closing, the company drew $2 million from the credit line.
Northwest Airlines, Eagan, closed on a new $500 million financing facility. The financing is structured as a $500 million secured revolving credit facility and was led by U.S. Bank with Citigroup and Morgan Stanley as lead arrangers and joint book runners.
Arctic Cat Inc., Thief River Falls, Minn., declared a quarterly dividend of 7 cents per share of common and class B common stock. The dividend is payable on or about Dec. 3 to shareholders of record Nov. 14.
HickoryTech Corp., Mankato, declared a quarterly dividend of 13 cents per share, payable Dec. 5 to shareholders of record Nov. 15.
PERSONNELThe Blue Cross and Blue Shield of Minnesota Foundation, Eagan, named Pat Geraghty, Deborah Meehan and Shawn Patterson to its 13-member board of directors. Geraghty is president and CEO of Blue Cross and Blue Shield of Minnesota; Meehan is founder and executive director of the Leadership Learning Community, Oakland, Calif., and Patterson is vice president of marketing at Blue Cross and Blue Shield of Minnesota.
Bureau of Collection Recovery, Eden Prairie, appointed Marty Sarim and Mark Neill as presidents.
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Blog: Patent Pending
Lights out at U energy conference. Irony police notified.
Just as Lawrence Kazmerski, a top official at the National Renewable Energy Laboratory, was about to give the keynote address at the University of Minnesota's annual E3 conference at the RiverCentre in St. Paul, the lights went out, bathing the audience in darkness and a deep sense of irony.
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