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ALCO...Alico...trying to reason with hurricane season...

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polkamatic   Tuesday, 09/09/08 12:40:09 AM
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ALCO...Alico...trying to reason with hurricane season...
Alico Converts $50 Million of Its Line of Credit to a Fixed Interest 10 Year Term Note
Monday September 8, 4:59 pm ET


LABELLE, Fla., Sept. 8, 2008 (GLOBE NEWSWIRE) -- Alico, Inc. (NasdaqGS:ALCO - News), a land management company, announced today that on September 3, 2008 the Company converted $50,000,000 of the outstanding balance on its $175,000,000 Revolving Line of Credit with Farm Credit of Southwest Florida to a 10 year term loan bearing a fixed interest rate of 6.79% with equal payments of principal and interest of $1,712,403.26 per quarter until maturity.
http://biz.yahoo.com/pz/080908/149919.html






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