Fargo Electronics Amends Loan Agreement With LaSalle Bank and Harris Bank.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Feb. 14, 2002 Fargo Electronics, Inc. (Nasdaq:FRGO) today announced that it has completed an amendment to its loan with the Minnesota officer of LaSalle Bank National Association, an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of ABN Amro Inc. (NYSE NYSE See: New York Stock Exchange :ABN), as Agent, and Harris Trust and Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , an operating unit of The Bank of Montreal “BMO” redirects here. For the mathematics competition, see British Mathematical Olympiad. Bank of Montreal/Banque de Montréal (TSX: BMO, NYSE: BMO) is Canada's fourth largest bank[1], and is classified as a Domestic Chartered Bank (Schedule I). . Under the terms of the amendment, the banks will extend the maturity of the existing $14 million term loan facility, and the $5 million revolving credit facility, to April 1, 2003. Currently, Fargo does not have any indebtedness on the revolving credit facility. The agreement calls for principal repayments on the term loan of $1 million per quarter, with the remaining balance due at maturity. Fargo amended its original revolving credit facility with the two banks in April 2001, converting it into a $19 million term loan and a $5 million revolving credit facility, which at the time of the amendment had $3.9 million of outstanding borrowings. About Fargo Fargo Electronics, Inc. (Nasdaq:FRGO) is the world's leader in innovative technologies for desktop plastic card personalization systems. Based in Eden Prairie, Minnesota The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. , Fargo card printer/encoders create personalized plastic identification cards complete with digital images and text, lamination lamination a laminar structure or arrangement. , and electronically encoded information. Personalized identification cards provide physical, information and transaction security for a wide variety of applications including retail stores, e-commerce, government installations, schools, sports and recreation facilities, clubs and associations, and correctional facilities. More than 60,000 Fargo systems are currently installed throughout the U.S. and in over 100 other countries. For more information, visit Fargo's Web site at http://www.fargo.com. |
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