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Baldwin Obtains New $35 Million Credit Line

Monday, January 08, 2001

Press release from the issuing company

SHELTON, Conn.-- Baldwin Technology Company, Inc. (AMEX:BLD) announced today that it has entered into a new, three-year $35 million revolving credit facility with Fleet Securities, Inc. and First Union Securities, Inc. as Co-Arrangers. The Credit Agreement was effective as of October 31, 2000, with the related documentation concluded as of December 31, 2000. James M. Rutledge, Chief Financial Officer of the Company, stated that the Fleet/First Union facility replaces a previous credit agreement that the Company and its subsidiaries had in place since 1995 with Bank of America, N.A. (formerly NationsBank, N.A.) and Fleet National Bank (formerly BankBoston, N.A.). In addition, the new credit line increases the Company's borrowing availability by $10 million. Loans under the new facility would be used for general corporate purposes, including acquisitions.

 

 

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