CLST - CellStar Corporation Message Board

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Technology Stocks : CLST - CellStar Corporation

CLST 15.04

0.0%

Nov 25 3:59 PM EST

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To: BillyJoe McCallister who wrote (100)	10/18/1997 2:06:00 AM
From: GREGG M. AKIN	of 641

NEWS CellStar Corporation (Nasdaq: CLST) announced today that it has completed a new $135.0 million multicurrency revolving credit facility, which was arranged by Chase Securities Inc. and led by Texas Commerce Bank National Association, The First National Bank of Chicago and National City Bank of Kentucky, as co-agents, for a syndicate of banks that also includes Credit Lyonnais, The Fuji Bank, Limited and Wells Fargo Bank (Texas), National Association. The new facility has a term of approximately five years, replaces the Company's previous $90.0 million revolving credit facility and provides the ability to borrow in multiple currencies to support the Company's working capital requirements and growth plans. "We are very pleased with our new bank group which gives us geographic coverage around the globe," stated Mark Q. Huggins, Senior Vice President and Chief Financial Officer. "This new bank facility furnishes us with more attractive financing costs and much greater financial flexibility." Dick Gozia, President and Chief Operating Officer of CellStar noted, "The completion of this new $135.0 million bank facility combined with the $150.0 million offering of convertible subordinated notes that was closed on Tuesday of this week provides CellStar with over $190.0 million in additional capital to allow us to take advantage of attractive business opportunities on a timely basis and to help us grow in the future."

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