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SALTON/MAXIM HOUSEWARES RECEIVES $25 MILLION LINE OF CREDIT

     SALTON/MAXIM HOUSEWARES RECEIVES $25 MILLION LINE OF CREDIT
    CHICAGO, Dec. 26 /PRNewswire/ -- Salton/Maxim Housewares, Inc. (NASDAQ: SALT) announced today that it has entered into an agreement with LaSalle National Bank for a $25 million secured revolving line of credit which provides for interest on borrowings at prime.  The agreement extends to Oct. 1, 1993 and includes an international letters of credit facility.
    Leon Dreimann, Salton/Maxim president and CEO, said "This new line of credit allows Salton/Maxim to borrow at lower rates than in the past and without any administrative fee or unused line fee.  It replaces, and increases, the revolving line of credit the company has maintained with Westinghouse Credit Corp. that had been partially paid off with a portion of the proceeds of our public offering.  The company plans to use the funds borrowed under the line for working capital and new product expansion."
    The Mt. Prospect-based company, which designs and markets small appliances and beauty care products under the Salton, Maxim and Salton Creations brand names, went public on Oct. 9, 1991.
    -0-             12/26/91
    /CONTACT:  Julie Jacobs of Golin/Harris Communications for Salton/Maxim Housewares, 312-836-7295/
    (SALT) CO:  Salton/Maxim Housewares Inc. ST:  Illinois IN:  HOU SU:  FNC FC -- NY016 -- 5325 12/26/91 14:32 EST
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Publication:PR Newswire
Date:Dec 26, 1991
Words:215
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