10 September 1998: US-based Apogee Enterprises, Inc., a leader in the design and development of value-added glass products, services, technologies and systems for the non-residential building, automot…
10 September 1998: US-based Apogee Enterprises, Inc., a leader in the design and development of value-added glass products, services, technologies and systems for the non-residential building, automotive and commercial markets, announced that it has successfully syndicated its new five-year US$ 275 million committed revolving credit facility to a group of nine domestic and international banks. The facility was originally underwritten by the Bank of New York, US Bank National Association, and Harris Trust and Savings Bank. Joining the original underwriters are The Bank of Nova Scotia, Comerica Bank, Fuji Bank, Sumitomo Bank, Norwest Bank Minnesota, N.A. and Regions Bank, said a recent press report. The new facility replaces a US$ 150 million committed revolving credit facility. The additional debt capacity will be utilized by Apogee to finance its US$ 100 million capital expenditures programme, most of which is earmarked to expand its Glass Technologies segment. “We are very pleased to partner with such a strong group of banks,” said Apogee“s Michael Bevilacqua, Treasurer and Senior Director Business Development. “Our new bank group recognizes the benefits of our large-scale expansion in Glass Technologies and exit from international curtainwall.”