Brajdas Signs $19-Million Credit-Line Agreement
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Brajdas Corp., a Woodland Hills electronic components distributor, said it signed a $19-million revolving credit-line agreement and letter of credit with Barclay Financial Group of San Francisco. The financing will be used to fund Brajdas’ inventory. It replaces the company’s previous $8-million credit line with Barclay Financial, and a credit line and long-term debt from Wells Fargo Bank totaling $7.3 million.
Barclay and Co. Inc., a general partner in Barclay Financial, and its officers hold more than 50% of Brajdas’ outstanding common stock.
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