DEP reports restructuring of its Bank Facility.LOS ANGELES--(BUSINESS WIRE)--Oct. 30, 1995--DEP Corp. (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 :DEPCA/DEPCB) Monday announced that it has reached an agreement in principle with its Bank Group to amend its term and working capital facilities. The company and the Bank Group are in the process of documenting the amendment, which, among other things, provides for lower quarterly scheduled term loan payments through April 1, 1996. The $9,567,000 payment originally due on Dec. 30, 1995, has been reduced to $500,000. A principal payment of $8.3 million will be due on April 15, 1996. The interest rate paid by the company will increase to prime plus 3 percent for the period through June 30, 1996, with additional increases in rates through Dec. 30, 1996, the revised termination date termination date, n See expiration date. . The working capital commitment under the amended Bank Facility is $25 million. ``We are pleased that we have reached an agreement in principle with our Bank Group to amend our Bank Facility which postpones our Dec. 30, 1995, principal payment,'' said DEP DEP Deposit DEP Deputy DEP Department of Environmental Protection DEP Dependent DEP Departure DEP Depot DEP Deposition DEP deployed (US DoD) DEP Data Execution Prevention (computer security) chairman and president, Robert Berglass. ``The company is currently meeting its sales goals and has positive cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses with over $5 million in cash on hand to fund operations.'' DEP is a consumer products company that develops, manufactures and markets a wide variety of hair, oral and skin care products under 10 major brand names: Dep, L.A. Looks, Agree, Halsa, Lilt, Topol, Lavoris, Natures Family, Porcelana and Cuticura. CONTACT: DEP Corp., Rancho ran·cho n. pl. ran·chos Southwestern U.S. 1. A hut or group of huts for housing ranch workers. 2. A ranch. Dominguez, Calif. D. Lee Johnson Lee Johnson is the name of:
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