Novadyne Computer Systems Inc, Santa Ana, California sucessor company – marketing and services only – to McDonnell Douglas Information Systems Inc in the US, reports that it has successfully concluded restructuring negotiations with Heller Financial Inc, State Bank of South Australia, McDonnell Douglas Corp and its original investor groups, and that Cerplex Group has agreed to invest $3m in it; the agreements substantially reduce its total debt and it will schedule repayment of the remaining debt in line with its financial outlook. The company took on excess of debt in its leveraged buyout from McDonnell Douglas in 1990. Heller Financial will provide Novadyne with a package of term and operating credit arrangements valued at more than $29m.
