Distribution Dynamics Completes Refinancing
Distribution Dynamics Completes Refinancing
Joel Dippold
Distribution Dynamics, Inc (DDI) recently completed its bank refinancing, converting the company’s approximately $115 million of bank and institutional debt to $28 million of secured debt, with approximately $87 million of debt extinguished. The company’s senior lenders have extended a new $9 million revolving credit facility to the company as part of a three-year commitment.
Andrew G. Barnett, CEO, said “Our banks have provided consistent and extraordinary support from the beginning, not only as evidenced by their willingness to retire a substantial amount of debt but by investing a fresh $9 million in the form of a new revolving credit agreement.” Web: distributiondynamics.com �2002 FastenerNews.com
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