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ANDAL CORP. RESTRUCTURES LOANS

 ANDAL CORP. RESTRUCTURES LOANS
 NEW YORK, June 1 /PRNewswire/ -- Andal Corp. (AMEX: ADL) today


announced that it has restructured substantially all of its demand loans from banks and other secured lenders into term loans. Under the term loans, Andal is not permitted to incur additional debt, however the interest payments are deferred until June 1993, and principal payments do not begin until March 1993. The banks have also limited Andal's ability to make expenditures other than in the ordinary course of business without their consent.
 Andal, through its Multi-Arc Scientific Coatings Division ("Multi- Arc"), is engaged in surface enhancement as a leading provider of thin- film metal coating services and systems.
 Andal owns a 21 percent interest in Steve's Homemade Ice Cream, Inc. a seller, franchisor and distributor of premium and super-premium ice cream and frozen yogurt. Andal also owns a 25 percent interest in Olsher Metals Corporation. Olsher Metals and its subsidiaries are engaged in niche areas of the carbon steel industry, including the operation of a facility which processes primary and secondary grades of tin plate.
 -0- 6/1/92
 /CONTACT: Michael S. Huber of Andal, 212-688-4440/
 (ADL) CO: Andal Corp. ST: New York IN: SU: RCN


AH-LR -- NY083 -- 5902 06/01/92 16:51 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
Words:208
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