Baldwin and Maple Renegotiate Terms of Credit Agreement
Press release from the issuing company
SHELTON, Conn.--Sept. 15, 2004-- Baldwin Technology Company, Inc. announced today that it has renegotiated the terms of the Credit Agreement with Maple Bank GmbH to increase the size of the facility from $20 million to $28 million, reduce the interest rate by approximately 350 basis points and extend the maturity date of the loan to October, 2008.
Vijay Tharani, Chief Financial Officer of the Company, commented: "I am pleased that, largely as a result of the Company's improved financial performance over these past 15 months, we were able to amend the terms and conditions of the credit facility between Baldwin and Maple. This amendment will allow the Company greater operational flexibility to aggressively pursue new business opportunities."
The Company noted that it will file a Form 8-K Report with the Securities and Exchange Commission, together with a copy of the Amended Credit Agreement, which will be available via the SEC's EDGAR system or through a link on the Investor Relations section of the Company's web site.
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