Fritz Announces Completion of Private Placement.SAN FRANCISCO--(BUSINESS WIRE)--April 23, 1996--Fritz Companies 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 :FRTZ) announced the recent completion of a $75 million private placement of 6.43% Senior Notes due April 15, 2003. John H. Johung, chief financial officer, commented: "We are extremely pleased with the successful completion of this transaction. Effectively financing Fritz's rapid growth continues to be a critical component of supporting the company's market leadership position and enhancing shareholder value. "We believe the recent interest rate environment provided Fritz with an outstanding opportunity to raise attractively priced debt and further optimize its capital structure." 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. acted as financial advisor and placement agent to Fritz in this transaction. Fritz Companies Inc. is a leader in international transportation logistics and related information services See Information Systems. for importers and exporters worldwide. The company's principal services include logistic lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation management, customs brokerage, international air and ocean freight consolidation and forwarding, warehousing and distribution, and other value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. for the global movement of goods and logistics information. Fritz Companies Inc. is headquartered at 706 Mission Street, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA 94103, telephone 415/904-8360 (www.fritz.com). The Company's shares are traded on the NASDAQ Exchange, symbol FRTZ. CONTACT: Fritz Companies John H. Johung, 415/904-8330 |
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