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Richardson Announces Credit Deal

Richardson Announces Credit Deal

Richardson Electronics said it has negotiated a new $102 million secured revolving credit facility
with its current lenders.
The company said the deal gives it “significantly relaxed leverage and coverage ratios” and extends its maturity date by 15 months. The agreement replaces existing credit lines and is secured by the company’s trade receivables and inventory.
A company official said the agreement adds significant operating flexibility.