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Seabrook gets reprieve of $90 million in loans

The investment firm handling the bailout plan for the troubled Seabrook nuclear power plant announced Tuesday it has sold $90 million in short-term loans. The loans to the Public Service Company of New Hampshire will allow the utility to pay off creditors and resume some construction on Seabrook.

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Public Service Company of New Hampshire, which heads the construction project , had also won an agreement from banks to extend the deadline on some $50 million in loan payments, Robert Hildreth Jr., the managing director of Merrill Lynch Capital Markets said. A number of the banks also agreed to lend the utility another $35 million.

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