Black Box Corporation Renews $120M Credit Facility.PITTSBURGH Pittsburgh (pĭts`bərg), city (1990 pop. 369,879), seat of Allegheny co., SW Pa., at the confluence of the Allegheny and the Monongahela rivers, which there form the Ohio River; inc. 1816. -- Black Box Corporation (Nasdaq:BBOX) announced today that it has renewed its existing credit facility for $120 million with terms substantially similar to its previous agreement. The current effective interest rate under this facility is LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). plus 75 basis points, or approximately 1.9%. The Company's revolving credit agreement Revolving credit agreement A legal commitment in which a bank promises to lend a customer up to a specified maximum amount during a specified period. revolving credit agreement See line of credit. is with a group of banks, with Citizens Bank of Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York as agent. The other banks include Wachovia Securities Wachovia Securities, located in Richmond, Virginia (soon to be moved to St. Louis), is the third largest brokerage firm in the United States as of 2006 with $689 billion retail client assets under management. It is a subsidiary of Wachovia Corporation. , as documentation agent; Comerica Bank, Fifth Third Bank, Fleet National Bank, National City Bank of Pennsylvania and Comerica Bank, all as co-agents; and Key Bank National Association and Mellon Bank, N.A., both as lenders. The agreement was extended until August 31, 2008. Black Box is the world's largest technical services company dedicated to designing, building, and maintaining today's complicated network infrastructure systems. Black Box services clients through 117 offices in 132 countries throughout the world. |
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