ADFlex secures $45 million credit facility.CHANDLER, Ariz.--(BUSINESS WIRE)--June 11, 1997--ADFlex Solutions Inc. (Nasdaq/NM:AFLX) Wednesday announced that it has increased the company's credit facility from $20 million to $45 million. The new credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities consist of a $20 million revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. , and a $25 million five-year term loan. The company's new credit facility was arranged by BancBoston Securities Inc., with BankBoston N.A., Bank One, Arizona, N.A., and Imperial Bank of Arizona as lenders. Commenting on the expanded credit facilities, ADFlex Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Rolando C. Esteverena stated: "We are pleased to have received this vote of confidence from the banking community. The increased bank lines are intended to give the company the flexibility to accelerate the expansion of manufacturing capacity as needed as needed prn. See prn order. to take advantage of growth opportunities." ADFlex Solutions is a leading supplier of flexible circuit-based interconnect solutions to the computer, computer peripheral and communication industries. Applications for flex-based interconnects include cellular telephones, hard disk drives and other storage systems, high-end consumer products, notebook computers A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. , pagers and personal communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. . CONTACT: ADFlex Solutions Inc., Chandler Don Frederick, 602/963-4584 or Silverman Heller Associates Eugene Heller/Glenn Schoenfeld, 310/208-2550 |
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