Bank of America provides ViewSonic Corporation with $50 million credit facility.LONG BEACH, Calif.--(BUSINESS WIRE)--July 7, 1995--Bank of America's Commercial Banking Division announced today that it has provided a new $50 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 to ViewSonic ViewSonic is a manufacturer and provider of visual technology, specifically CRT monitors, liquid crystal displays, projectors, plasma displays, HDTV technology, and mobile products, including tablet PCs and wireless monitors. Corporation, based in Walnut walnut, common name for some members of the Juglandaceae, a family of chiefly deciduous, resinous trees characterized by large and aromatic compound leaves. Species of the walnut family are indigenous mostly to the north temperate zone, but also range from Central , Calif. The new credit facility will be used for working capital, and replaces an existing $20 million credit facility provided by the bank. Established in 1990, ViewSonic has grown rapidly to become a recognized leader in the computer monitor industry. Known for its price/performance leadership and innovation, the company recently introduced a new line of multimedia products and six new high-end high-end adj. Informal 1. Appealing to sophisticated and discerning customers: a high-end department store; high-end video equipment. 2. monitors. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Douglas W. Taylor, Regional Senior Vice President and head of BofA's Long Beach/South Bay Regional Banking Office, where the transaction originated, "ViewSonic has experienced phenomenal growth and needed an increased line of credit to support its expansion." The company has banked with BofA since its inception. "Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. showed that it clearly understood our business focus and growth objectives," said James Chu, President of ViewSonic. "The bank acted quickly to provide the financing we needed to maintain our high growth rate," added Jerry Kanaly, ViewSonic's Vice President of Operations and Chief Financial Officer. The regional commercial banking offices of Bank of America provide a full range of banking services -- including credit, capital markets, cash management, investments and personal banking. CONTACT: Bank of America Lisa Lewis, 415/622-2645 |
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