N.Y. GIANTS WILL GET BY WITH A LITTLE HELP FROM FIRST UNION

          First Union Capital Markets Corp. has completed a $25M
     private placement of senior notes for the NFL Giants, and
     also provided the team a $20M line of credit (First Union). 
     In N.Y., Richard Wilner reports that the $25M in private
     placement bonds "were floated recently at" a 10% interest
     rate to "get the team through a cash-lean portion of the
     year."  Wilner writes the deal "is believed to be one of the
     first private placements arranged for an NFL team."  Giants
     Exec VP John Mara said the capital will be used for "general
     operating needs" and not for a particular project or player. 
     Mara: "There are times during the year when you need to
     borrow" (N.Y. POST, 8/19).