Mr. JA, if you are out there, how's this for "plan B"?
General Instrument and BA Credit Corporation Form GI Digital Products Leasing Program
15:21 Dec 11, 1996 EST
HATBORO, Pa., Dec. 11 /PRNewswire/ -- General Instrument Corporation (NYSE: GIC) and BA Credit Corporation (BACC), a wholly owned subsidiary of Bank of America, have signed an agreement which will allow operators to finance the latest GI MPEG-2 digital product systems through BACC. The GI/BACC leasing program will enable operators to upgrade their networks and provide their subscribers with new, enhanced digital programming and interactive services -- with greater ease, flexibility, and affordability.
The GI/BACC leasing program will offer a wide variety of leasing and financing structures to match the specific needs of operators in upgrading and adding-on to their current equipment, and expanding their systems to meet subscriber demands. The leasing program will be made available to all operators, subject to credit approval. Depending on terms and conditions, a typical operator can lease a digital set top for less than $10 a month per unit.
"GI has digital product now, and broadband network operators throughout North America have begun deployment. This action will hasten the universal deployment of digital technology. The GI/BACC leasing program provides operators with cost-effective, end-to-end equipment solutions. It eliminates upfront capital outlays, and provides competitive financing rates," said David Robinson, Vice President and General Manager of GI's Digital Network System business unit.
"The flexibility of this plan gives our clients another tool that allows them to conserve capital, and the opportunity to launch new revenue generating streams", said David M. Karlman, Director of Sales, GI Satellite Systems North America.
Customer benefits of the GI/BACC leasing program include:
* Flexible Financing Structures -- The program offers a variety of
structures to match specific customer needs. BA Credit Corporation
leasing professionals can assist customers in determining the most
appropriate structure.
* Extremely Competitive Rates -- BACC's access to capital markets opens
the door to some of the most competitive rates available
internationally.
* Ability to Match Payments to Cash Flow -- The plan allows customers
to defer, skip, or step payments. Customers can choose a monthly,
quarterly, or semiannual payment schedule. For seasonal businesses,
payments can be made to fit seasonal cash flow cycles.
* One-Stop Convenience - Customers do not need to shop around for
competitive financing, allowing them to acquire equipment quickly and
efficiently.
* Working Capital Lines are Preserved - The program provides financing
at bank rates without restricting important lines of credit needed
for short-term borrowing.
BA Credit Corporation is a recognized leader in providing value-added finance programs for equipment manufacturers and vendors.
General Instrument is a worldwide leader in developing technology, systems and product solutions for the interactive delivery of video, voice and data as well as in manufacturing and distributing discrete semiconductors.
Visit General Instrument's Web Site gi.com SOURCE General Instrument Corporation |
