BMC Obtains a $150 Million Credit Facility.MINNEAPOLIS--(BUSINESS WIRE)--June 10, 1996--BMC Industries Inc. announced today it has entered into a credit agreement with Norwest Bank Minnesota, N.A., as agent and a lending bank. First Bank National Association and NBD NBD Next Business Day NBD National Bank of Dubai (United Arab Emirates) NBD No Big Deal NBD Network Block Device (Linux) NBD Nucleotide Binding Domain NBD New Business Development Bank for a $150 million unsecured credit facility. This credit facility consists of a $70 million revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility for general corporate purposes and an $80 million acquisition credit facility. Paul B. Burke, BMC's Chairman, President and Chief Executive Officer, stated, "The Company has undertaken its most aggressive capital expenditure and expansion programs in its history. This credit facility provides BMC (BMC Software, Inc., Houston, TX, www.bmc.com) A leading supplier of software that supports and improves the availability, performance, and recovery of applications in complex computing environments. with the availability of funds to successfully complete these programs, as well as provides immediately available funds in the event the Company encounters a strategic acquisition opportunity." BMC is one of the world's largest manufacturers of aperture masks for color picture tubes used in televisions and computer monitors. Through Vision-Ease Lens Inc., a wholly-owned subsidiary of the Company, the Company is also a leading producer of polycarbonate A category of plastic materials used to make a myriad of products, including CDs and CD-ROMs. , glass and plastic eyewear lenses. The common stock of the Company is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "BMC". CONTACT: BMC Industries Inc. Michael P. Hawks, 612/851-6030 |
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