Video Display Corp Signs Credit Agreement

Video Display Corporation VIDE today announced that the Company had entered into a new senior secured three-year credit agreement among the Company, RBC Bank and Georgia's Community & Southern Bank with RBC bank acting as the Administrative Agent. The new facility provides a $24.0 million package of debt instruments including a revolving credit facility with a $17.5 million cap based upon inventory and receivable advance levels, and two term loans totaling $6.5 million.