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TRIAD COMPLETES DEBT RESTRUCTURING AND EQUITY INFUSION

 TRIAD COMPLETES DEBT RESTRUCTURING AND EQUITY INFUSION
 LIVERMORE, Calif., Aug. 3 /PRNewswire/ -- Triad Systems Corp. (NASDAQ: TRSC) today announced the completion of a major debt restructuring and equity infusion and the repayment in full of the remaining $69.8 million in senior extendible reset notes issued by the company in 1989.
 The 14 percent reset notes have been replaced by $65.5 million in new financing at a blended cost of less than 9 percent per year, creating a savings of more than $4 million in Triad's annual interest expense.
 New financing commitments include $25 million in senior notes at a fixed interest rate of 12.25 percent maturing in 1999, senior floating rate notes for $15.5 million maturing in 1997 with an initial rate of 6.5 percent, and $20 million in equity units consisting of 1 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, all of which were purchased by entities advised by Richard C. Blum & Associates Inc. The preferred stock entitles holders to initial cumulative dividends at the rate of 4 percent per year. Triad also increased its secured line of credit by $5 million. The balance of the repayment of the reset notes came from internally generated funds. Richard C. Blum, president and chairman of the board of Richard C. Blum & Associates Inc., joined Triad's board of directors effective as of the closing of the refinancing.
 The investment banking firms of Kidder, Peabody and Lehman Brothers assisted Triad in the transaction.
 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 Triad's fastest growing unit. Triad's turnkey computer systems are supported by a nationwide customer services operation and financing.
 -0- 8/3/92
 /CONTACT: Tim Mehren of Triad Systems, 510-449-0606/
 (TRSC) CO: Triad Systems Corp. ST: California IN: TRN CPR SU: RCN


DG -- SF002 -- 6183 08/03/92 12:48 EDT
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Publication:PR Newswire
Date:Aug 3, 1992
Words:358
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