IN BRIEF (Page 16)

Kia arranges credit line

Kia Motors Corp, the South Korean carmaker that's avoided the worst of the US sales slump, said it arranged a $305 million revolving credit line with three banks to fund operations in the world's largest auto market.

Kia Motors America, based in Irvine, California, said yesterday it closed the 3-year funding agreement led by a unit of Wells Fargo & Co, with Bank of America Corp. and JPMorgan Chase & Co as secondary lenders. The credit line replaces a three-year, $300 million facility with Bank of America, Brian Park, Kia's US budget and treasury manager, said.