All American Semiconductor amends revolver, ups size to $85 million

By Sara Rosenberg

New York, June 14 - All American Semiconductor Inc. amended its revolving credit facility, increasing the size to $85 million from $65 million. Harris Trust and Savings Bank is the lead bank on the deal.

Proceeds will be used to finance the company's continued growth and to repay some subordinated debentures that matured June 13 in the outstanding principal amount of $5.15 million.

"While we continue to explore additional sources of capital to support our anticipated growth, we believe that this increase in bank debt is a cost-effective source of funds," executive vice president and chief executive officer Howard L. Flanders said in a company news release.

"With the mounting signs of health in the overall economy and the recovery that appears to be ongoing in our industry, we remain optimistic about the opportunities for continued growth for All American," Flanders said in the release.

All American is a Miami distributor of semiconductors and electronic components.

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