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 This new
agreement will provide SED with the flexibility to maximize
the Company's opportunities throughout all of its operations
Jean Diamond, CEO and Chairman of the Board of Directors
 SED
International announced today that it has completed a
financing agreement with Wachovia Bank to provide an asset based
revolving credit facility. The agreement is initially for three
years and has a maximum borrowing capacity of $50 million. The
Company may utilize this credit facility to support Domestic and
International operations.
"Wachovia offered a quality team with the most comprehensive
products, services, and geographic scope to serve our Company's
requirements. Our relationship with Wachovia dates back to the
early 1980's and we are very proud to once again partner with
such a dynamic financial institution. This new agreement will
provide SED with the flexibility to maximize the Company's
opportunities throughout all of its operations. The three-year
agreement is essential for the management team to grow revenues
and profit and to operate the Company," said Jean Diamond, CEO
and Chairman of the Board of Directors. "We primarily plan on
utilizing the credit facility to accelerate vendor payment
discounts."
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