CARROLLTON, Texas-Wireless phone distributor CellStar Corp. completed a $135 million multiple currency revolving credit facility, giving it the ability to borrow in various currencies for meeting capital needs and growth plans, the company said.
The new facility, arranged by Chase Securities Inc., has a term of about five years and replaces the company’s previous $90 million facility. Combining these new funds with its $150 million offering in mid-October of convertible subordinated notes, the company now has $190 million in additional capital, reported CellStar President and Chief Operating Officer Dick Gozia.
With operations in the United States, Asia-Pacific, Latin America and United Kingdom, CellStar distributes wireless phones for Motorola Inc., Nokia Mobile Phones Inc. and Ericsson Inc. It also distributes wireless handsets from manufacturers Qualcomm Inc. and NEC Corp. in the United States.
