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Notes

December 31, 1987

Micro D Inc., a Santa Ana-based computer products distributor, has concluded a $25-million financing arrangement with Massachusetts Mutual Life Insurance Co. of Springfield, Mass., and Principal Casualty Insurance Co. of Des Moines, Iowa. Micro D will use the $25 million from the two insurers to pay off about $21 million of short-term debt, said Godfred P. Otuteye, Micro D's chief financial officer. The new loans carry a fixed interest rate and must be paid by December, 1997. Otuteye said the agreement "shows investor confidence in the company that these insurance companies are willing to invest money for a long period of time."

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