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Industry: Email Alert RSS FeedFinancial: SyQuest Technology Renews Lines of Credit; Leading Financial Institutions Confident of SyQuest's Long-Term Financial Stability
Edge: Work-Group Computing Report, July 13, 1998
SyQuest Technology, Inc.Wednesday announced that Greyrock Business Credit and Silicon Valley Bank have completed their regular annual review of SyQuest's $30 million line of credit and have renewed that line.
At the same time, SyQuest announced that BHL Bank in Penang, Malaysia has renewed their $8 million line of credit to SyQuest.
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"The renewal of these lines is evidence of the continued support of our banks as we proceed in our turn-around program," stated Ed Marinaro, chairman of SyQuest. "The renewal of these lines demonstrates our banks' confidence in our financial stability." FMI: www.syquest.com.
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