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June 17, 1997updated 05 Sep 2016 12:47pm

CDSI SECURES $75M IN CREDIT FOR ASEC BUY

By CBR Staff Writer

Computer Data Systems Inc, the Rockville, Maryland-based data and record management service provider, says it has secured a $75m credit facility with NationsBank NA. The company expects to use the bulk of the term portion of the loan for the June 18 closing of its acquisition of Analytical Systems Engineering Corp, announced last week (CI No 3,177). Ninety percent of the $51m purchase price will be paid in cash and 10% will be paid in shares of CDSI stock valued for purposes of the transaction at $27.50. The credit facility is comprised of two loans; a seven- year term loan of $50 million for its ASEC acquisition and a three-year revolving loan of $25 million which will be used for working capital, future acquisitions and general corporate objectives.

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