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HSBC Bank USA extends USD23.5m loan to Napco.
(From Banking and Credit News)
BANKING AND CREDIT NEWS-July 9, 2012--HSBC Bank USA extends USD23.5m loan to Napco (C)2012 M2 COMMUNICATIONS http://www.m2.com
9 July 2012 - HSBC Bank USA National Association has extended a new USD23.5m (EUR19.1m) credit facility to Napco Security Systems (NASDAQ:NSSC), the US security products manufacturer said. The credit facility consists of a USD12.5m term loan and a USD11m revolving loan facility, to be used for financing Napco's activities. Both the term and revolving loans come at a variable interest rate based on the company's performance. The new interest is between 1.75% and 2.5% lower than the rate on the previous loan …
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