Bank Increases Aviation Distributors' Credit Line by 33%.LAKE FOREST, Calif.--(BUSINESS WIRE)--Feb. 11, 1999--Aviation Distributors Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ADIN Adin (ā`dĭn), in the Bible, family that returned from Exile. ), one of the world's 10 largest aircraft part redistributors and inventory management service providers, Thursday announced that its credit line has been increased from $15 million to $20 million as per an amendment to its existing bank 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 agreement. The amended agreement which provides for up to a 33% increase in the authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: credit line, also provides an increased advance rate on insured foreign receivables, and a purchase order advance line. These new provisions and added features will enable substantially more borrowing capacity and allow greater flexibility in financing selected transactions. This arrangement with the company's bank completes management's immediate plan to pursue a number of specific transactions involving the purchase, overhaul and resale of larger aircraft components in which the company has previously demonstrated success. Aviation Distributors is one of the world's 10 largest aircraft part redistributors and inventory management service providers to major commercial airlines worldwide, with agents in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , United Kingdom, throughout Europe, Australia, India, Jordan, Indonesia and Chile. Statements in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The company's actual results and financial position could differ materially from those anticipated in the forward-looking statements as a result of a number of factors, including, but not limited to, the price and availability of aircraft parts and other materials, successful execution of the company's expansion plans, impact of competition, the availability of additional financing, and other risks and uncertainties described fully in the company's Form 10-KSB filed with the Securities and Exchange Commission. Copies of the 10-KSB are available from Aviation Distributors' Investor Relations Investor relations The process by which the corporation communicates with its investors. department. |
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