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October 23, 1991updated 02 Sep 2016 3:38pm

BANK FINANCINGS

By CBR Staff Writer

NII Norsat International Inc in Surret, British Columbia has reached agreement with Standard Chartered Bank of Canada for its commercial credit facilities to be increased to $5m from $3m; the maker and distributor of products for receiving data, audio and video from communications satellites, wants the extra facilities to issue letters of credit to vendors, to collateralise banker’s acceptances under letters of credit, for operating overdrafts, and covering foreign exchange futures.

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