|
|
Article: TRIAD REFINANCES SENIOR FLOATING RATE DEBT
- Article from:
- PR Newswire
- Article date:
- September 6, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
LIVERMORE, Calif., Sept. 6 /PRNewswire/ -- Triad Systems Corporation (Nasdaq: TRSC) today announced the refinancing of its senior floating rate debt, creating significant interest expense savings in the company's fiscal year beginning October 1, 1995.
The First National Bank of Boston has agreed to finance the nearly $12 million in senior floating rate debt with a revolving credit vehicle at a current rate of less than 8%. The debt had previously been financed by U.S. Leasing.
The transaction will create annual savings of approximately $300,000 in interest and related expenses starting in Fiscal 1996 while resulting in a fourth quarter after-tax extraordinary ...