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Fidelity National gets $58M from money market fund
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JACKSONVILLE, Fla. - Fidelity National Financial Inc. said Friday it will receive $58 million from the Reserve Primary Fund, a money market fund that is being liquidated after its shares fell below $1 last month.
The title insurer said the sum represents about 51 percent of what it had invested in the fund. It plans to use the money to help repay $100 million of a $120 million loan it took at the end of September.
The loan was used to replace funds it had invested in the Reserve Primary Fund.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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