Comdial and Bank of America N.A. Finalize Terms of Bank Financing.Business Editors CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--Nov. 28, 2000 Comdial Corporation and 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. , N.A. have entered into an Amended and Restated Credit Agreement restructuring the terms of the Credit Agreement with the Bank dated October 22, 1998. The key terms of the Credit Agreement are identical to those the Company anticipated and set forth in its recently filed third quarter results on Form 10Q. Nick Branica, Comdial's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. commented, "We are very pleased to have our permanent financing Permanent financing Long-term financing using either debt or equity. permanent financing The long-term financing that supports a long-term asset. in place. The new agreement with the bank provides a solid foundation for our future. Now we can focus on growing our business and achieving our corporate goals. These goals include signing an outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. agreement by the end of this year and launching a new feature rich, competitively priced product designed for our smaller customers in the first quarter." About Comdial Comdial is a provider of integrated communications solutions. The Company's broad product line includes business communications, hospitality, assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. , real estate, and call center solutions. For more information about Comdial and its products, please visit the Company's web site at http://www.comdial.com . This release contains 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. that are subject to risks and uncertainties including, but not limited to, the impact of competitive products, product demand and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results, delays in development of highly complex products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These risks could cause the Company's actual results for 2000 and beyond to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company. |
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