PrimeSource Secures New $75 Million Revolving Credit Agreement
Press release from the issuing company
Pennsauken, NJ (April 5, 2001) PrimeSource Corporation (Nasdaq NM: PSRC), the leading supplier and digital workflow integrator to the nation’s fourth largest industry-printing and publishing-today announced that the Company has entered into a new, three-year $75 million revolving credit agreement. PNC Capital Markets acted as the lead arranger, with PNC Bank as the agent. This new credit facility replaces PrimeSource’s existing $75 million revolving credit agreement, which would have expired this May.
William A. DeMarco, Vice President and Chief Financial Officer, said, “We are pleased with this new credit facility, which will provide the Company the capital resources to continue to operate and grow our business, as we position PrimeSource for the long term.”
PrimeSource Corporation is headquartered in Pennsauken, New Jersey and has locations throughout the United States. In 2000, PrimeSource and Xeikon formed a joint venture company, known as Canopy, LLC, to grow the digital printing systems market.
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