New Line of Credit Underscores the Company’s Financial Strength and Market Leadership Despite Current Economic Climate
Relational Technology Solutions (RTS) today announced that the company renewed and extended its $210 million revolving credit agreement with its bank group. Proceeds of the agreement will be used to fund new business and support the existing lease and services customer base.
The co-lead arrangers and administrative agent were represented by National City Bank - now a part of PNC Financial Corp - and Banc of America Securities LLC, with Bank of America, N.A. as the syndication agent.
Commenting on the agreement, Jerry Rixie, vice president of finance and treasurer, said, “We are pleased to have the confidence and support of our lender group. Given the uncertainty in the credit markets, this renewed facility recognizes the overall strength of our company and will enable RTS to continue to support our customers’ investments in core IT, telecommunications and medical equipment.”
About Relational Technology Solutions
Relational Technology Solutions (RTS) is a premier independent technology and financial solutions provider dedicated to helping its clients solve business challenges with an integrated suite of solutions for technology acquisition, finance and disposition. Founded in 1990, the company now manages nearly $1 billion in assets for Fortune 1000 and mid-market companies across all industries. In 2008, the inaugural ranking of the Monitor Top Private Independentsrecognized RTS as one of the top five independent lessors in the U.S.Visit http://www.rts.com for more information.
Contacts:
Relational Technology Solutions
Holly Edlund
847.637.2626
hedlund@rts.com