Fritz Announces New Credit Facility.SAN FRANCISCO--(BUSINESS WIRE)--Jan. 16, 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) announces the recent closing of an $80 million syndicated multi-currency credit facility. John H. Johung, Chief Financial Officer, commented "We feel that this facility continues to provide Fritz with the tools and resources necessary to support the rapid growth of our business. Additionally, the structure reflects the evolution of Fritz's financial capabilities and provides us with another competitive advantage as the company grows globally." 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 agent for the transaction. The syndicate also includes ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) and Standard Chartered Bank Standard Chartered Bank (LSE: STAN, HKSE: 2888 ) is a British bank headquartered in London with operations in more than fifty countries. It operates a network of over 1,600 branches (including subsidiaries, associates and joint ventures) and employs almost 60,000 . Previously, Fritz had a $50 million credit facility in place. Fritz Companies, Inc. is a leader in global transportation logistics and related information services See Information Systems. for importers and exporters worldwide. The Company's principal services include logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet , customs brokerage, international air and ocean freight consolidation and forwarding, warehousing and distribution, and other value-added services for the global movement of goods and logistics information. Fritz Companies, Inc. is headquartered at 706 Mission Street, San Francisco, CA 94103, telephone 415/904-8360 (www.fritz.com). The Company's shares are traded on NASDAQ National Exchange, symbol FRTZ. CONTACT: Fritz Companies, Inc., San Francisco Kelly Belden Fisher, 415/904-8702 kelly.fisher@fritz.com |
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