SAN JOSE, Calif. - Sumitomo Bank of California has arranged a $70 million revolving line of credit for Bell Microproducts Inc.
The new credit facility, which provides for increases to $80 million, will be provided by a syndicate including Sumitomo, acting as agent, Union Bank, the First National Bank of Boston, Comerica Bank-California, and Daiwa Bank Ltd.
The new agreement increases the company's existing $35 million revolving line of credit and $5 million term loan facilities to $70 million to provide additional working capital.
Bell markets and distributes semiconductor and computer products to original equipment manufacturers and resellers.