Dendrite International Triples Credit Facility.Credit Line increased to $15 million in unsecured borrowing capacity with an interest rate reduction Dendrite dendrite: see nervous system; synapse. International, Inc. (NASDAQ/NMS:DRTE DRTE Defence Research Telecommunications Establishment ), today announced that it extended its 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 Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. and increased its size from $5 million to $15 million while also receiving a decreased interest rate. With a strong focus on the Pharmaceutical and Consumer Packaged Goods (CPG CPG central pattern generators. ) industries, Dendrite is a leading global provider of highly-specialized, integrated product and service offerings to support sales strategies for a sustained competitive advantage. George Robson, Chief Financial Officer of Dendrite, commented, "We are pleased that Chase showed the confidence in Dendrite to increase the size of the credit line while eliminating any requirement for collateral. With this extension, Dendrite was able to take advantage of the current interest rate environment and to use this new line as a financial backup. While we have no current plans to borrow, we now have the flexibilit00 sales representatives and their managers in oeir sales success. The Company uses its highly ocus sales representatives on improving their performance. With a global infrastructure as its foundation, Dethe Company's inception. Headquartered in mark of Dendrite International, Inc. Thite and its business. The predictions embodied itements. |
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