	usair u seeks two billion loan for takeovers usair group inc said it seeking two billion dlrs in bank debt to complete its takeover of piedmont aviation inc pie and its pending uisition of ps group inc s pacific southwest airlines in a filing with the securities and exchange commission that details its proposed dlr a share cash tender offer for piedmont usair said manufacturers hanover trust co mhc indicates its willingness in a march letter to provide up to mln dlrs of the financing manufacturers hanover would also to act as agent for a bank group to raise the rest of the financing usair said usair said a manufacturers hanover affiliate is currently agent for its mln dlrs revelving credit facility which would be replaced by the proposed two billion dlr financing usair put its total cost of completing the tender offer at billion dlrs its pacific southwest takeover which has received federal approval and is due to come up for shareholder approval later this month is for dlrs a share or mln dlrs total usair said it has already bought mln piedmont common shares or pct of the total outstanding from norfolk southern corp nsc for mln dlrs the tender offer which is being made through a usair subsidiary usag uisition corp would not be valid unless usair is left with more than half of piedmont s total outstanding common stock after the april expiration while negotiations on terms and interest rates of its bank loans are not yet complete usair said it expects them to be in the form of a one billion dlr two year term loan and a one billion dlr seven year revolving credit facility the company said it expects to repay the two year loan through equity preferred and debt offerings and possibly internal funds and the sale and or leaseback of aircraft reuter 
