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TRIAD ANNOUNCES MAJOR DEBT RESTRUCTURING AND EQUITY INFUSION

 TRIAD ANNOUNCES MAJOR DEBT RESTRUCTURING AND EQUITY INFUSION
 LIVERMORE, Calif., July 6 /PRNewswire/ -- Triad Systems Corporation (NASDAQ: TRSC) today announced the signing of a major debt restructuring and equity infusion for the refinancing of its remaining $69.8 million in senior extendible reset notes. At closing, scheduled for Aug. 3, 1992, the reset notes will be replaced with $64.5 million in new financing, including $20 million in preferred stock and warrants, with a current blended cost of less than 9 percent. The new package will reduce Triad's annual interest expense by more than $4 million.
 "We've been able to pay down more than $10 million in debt through internally generated cash flow since our 1989 recapitalization," said Triad President and Chief Executive Officer James R. Porter. "This new package will reduce our financing costs, enabling us to continue the expansion of our successful core businesses."
 Richard C. Blum & Associates, Inc. of California and its affiliates have committed to purchase the $20 million of preferred stock.
 "This de-leveraging of Triad's balance sheet will allow the company greater flexibility to expand its successful business and better deliver new products to the markets the company has developed in recent years," said Richard C. Blum, president and chairman of Richard C. Blum & Associates, Inc. Blum, who is to join Triad's board of directors, added that "we look forward to working in partnership with Triad's management over the next several years."
 Financing commitments include $24 million in senior notes at a fixed interest rate of 12.25 percent due in 1999, senior floating rate notes for $15.5 million maturing through 1997 with an initial rate of approximately 7 percent. The $20 million in equity units consist of one million shares of senior convertible preferred stock and warrants to purchase 3.5 million shares of Triad common stock with an exercise price of $6.375 and a five-year term. The preferred stock will entitle holders to initial cumulative dividends at a rate of 4 percent. The remaining $5 million will come from an increase in Triad's secured line of credit with Plaza Bank.
 US Leasing has made the entire commitment for the senior floating notes. Participating in the commitment for the senior rate notes are Massachusetts Mutual, Broad/Sun America, Equitable Life Assurance, National Bond Fund and Venture Advisors. The Aug. 3, 1992, closing is subject to customary closing conditions.
 The investment banking firms of Kidder, Peabody and Lehman Brothers assisted Triad in securing the refinancing commitments.
 Winner of the 1991 Information Technology Association of America Total Quality Award, Triad is the leading provider of business and information management solutions for the automotive aftermarket and retail hardgoods industry. Utilizing Triad's proprietary databases, the Information Services organization is the company's fastest growing unit. Triad's turnkey computer systems are supported by a nationwide customer services operation and financing.
 -0- 7/6/92
 /CONTACT: Tim Mehren of Triad Systems, 510-449-0606/
 (TRSC) CO: Triad Systems Corporation ST: California IN: AUT SU: RCN


TS-OS -- NY007 -- 6518 07/06/92 09:00 EDT
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Publication:PR Newswire
Date:Jul 6, 1992
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