Brightpoint Enters Into New Credit Facility.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--Nov. 1, 2001 Brightpoint, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CELL) ("Brightpoint") announced today that, through its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. subsidiaries, Brightpoint North America L.P. and Wireless Fulfillment Services LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (collectively, the "Companies"), it has entered into a new 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 with a syndicate of lenders led by GE Capital to provide capital for its North American operations North American operation Surgical oncology Radical surgery of a 'frozen pelvis', consisting of radical en bloc resection of the uterus and urinary bladder. See 'Frozen pelvis.'. Cf 'All-American' and 'South American' operations. (the "Revolver"). The Revolver replaces the existing Bank One multi-currency revolving loan. The Revolver, which matures in October 2004, provides borrowing availability, subject to borrowing base calculations and other limitations, of $80 million. The Revolver is secured by all of the Companies' assets in North America and borrowing availability under the Revolver is based primarily on a percentage of eligible accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying and inventory. The terms of the Revolver include negative covenants that, among other things, limit the Companies' ability to sell certain assets and make certain payments, including but not limited to, dividends, repurchases of common stock and other payments outside the normal course of business. The terms of the Revolver do not prohibit the subsidiaries of Brightpoint located outside of North America from incurring additional indebtedness. Subject to certain restrictions, Brightpoint may use proceeds under the Revolver to repurchase its outstanding convertible bonds. Brightpoint is one of the world's largest distributors of mobile phones. Brightpoint supports the global wireless telecommunications and data industry, providing quickly deployed, flexible and cost effective third party solutions. Brightpoint's innovative services include distribution, channel management, fulfillment, eBusiness solutions and other outsourced services that integrate seamlessly with its customers. Additional information about Brightpoint can be found on its website at www.brightpoint.com or by calling its toll-free Investor Relations Investor relations The process by which the corporation communicates with its investors. Information line at 877-IIR-CELL (877-447-2355). Certain information in this press release may contain forward-looking statements regarding future events or the future performance of Brightpoint. These statements are only predictions and actual events or results may differ materially. Please refer to the documents the Brightpoint files, from time to time, with the Securities and Exchange Commission; specifically, Brightpoint's most recent Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , Form 10-Q Form 10-Q See 10-Q. and Exhibits 99, thereto. These documents contain and identify important risk factors that could cause the actual results to differ materially from those contained in or implied by these forward-looking statements. These risk factors include, without limitation, the ability of the Companies to operate within the terms of the Revolver, including the borrowing availability limitations. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date these statements were made. Brightpoint undertakes no obligation to update any forward-looking statements contained in this press release. |
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