Printer Friendly

FREMONT FINANCIAL EXTENDS RECORD $15 MILLION CREDIT LINE TO NEW JERSEY-BASED COMPANY

 SANTA MONICA, Calif., April 28 /PRNewswire/ -- Fremont Financial Corp., a subsidiary of Fremont General Corp. (NYSE: FMT), today announced it has extended a $15 million credit line to MEM Company, Inc. (AMEX: MEM). This represents the largest single transaction by Fremont in its 24-year history.
 MEM, based in Northvale, N.J., is a manufacturer and distributor of adult and children's fragrances and toiletries. Its products encompass such nationally recognized names as English Leather, Heaven Scent, Love's Baby Soft and Tinkerbell.
 Gay A. Mayer, MEM Company president and chief executive officer, said, "Fremont Financial Corp. has been very responsive to our needs, and we look forward to a long and successful relationship." MEM plans to use the credit line for general working capital purposes.
 "The scope and size of this transaction make it particularly significant to Fremont," stated Robert N. Tenney, Fremont Financial president and chief executive officer. "We hope to participate in more fundings of this size in the future."
 Founded in 1969, Fremont Financial Corp. is a leading asset-based lending institution serving commercial clients throughout the United States. Headquartered in Santa Monica, the firm also has offices in Chicago, New York, Atlanta, Minneapolis, Cleveland, Detroit, Richmond, Va., and Charlotte, N.C.
 -0- 4/28/93
 /CONTACT: Robert N. Tenney of Fremont Financial Corp., 310-315-5550; or Roger Pondel of Pondel Parsons & Wilkinson, 310-207-9300, for Fremont Financial Corp./
 (FMT MEM)


CO: Fremont Financial Corp.; MEM Company Inc. ST: California IN: FIN SU:

MS-LS -- LA003 -- 1960 04/28/93 11:31 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 28, 1993
Words:250
Previous Article:FORD DEALERS WANT MORE EXPLORERS
Next Article:NSC CORPORATION ANNOUNCES FIRST QUARTER EARNINGS OF 10 CENTS PER SHARE
Topics:


Related Articles
FREMONT EXTENDS CREDIT LINES EXCEEDING $10 MILLION TO THREE NEW ENGLAND COMPANIES
FREMONT FINANCIAL EXPANDS IN EASTERN U.S. WITH ACQUISITION OF DANA BUSINESS CREDIT
BOSTON TECHNOLOGY RECEIVES $15 MILLION CREDIT LINE FROM PHILADELPHIA NATIONAL BANK AND SILICON VALLEY BANK
SOUTH JERSEY GAS CO. $30 MILLION DEBENTURES RATED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --
UJB FINANCIAL OPENS CONNECTICUT LENDING OFFICE
Fremont Comp, Blue Cross and Blue Shield of New Jersey and CompSource to Form Workers' Comp Managed Care Alliance
Gottschalks Announces a New $80 Million Line of Credit
KeyCorp Completes Acquisition of Champion Mortgage Co., Inc.
S&P Assigns Fremont Life Insurance Co. 'BBpi' Financial Strength Rating.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters