Amadeusz Juskowiak

Tylan tyln renews credit line

Tylan Corp said it renewed its eight mln dlr annual credit agreement with Bank of America and First Los Angeles Bank

The agreement includes a revolving credit line and a term loan through December 31 1987 both of which are secured by the assets of the company Tylan said

It said both lines bear interest at one pct over the prime rate subject to upward adjustment based on certain contingencies

Terms of the agreement include warrants for the banks to buy up to 200000 Tylan shares the company also said

Reuter