Advertisement
YOU ARE HERE: LAT HomeCollections

VENTURA COUNTY ROUNDUP

Reddi Brake Works Out New Line of Credit

October 24, 1995|JACK SEARLES

Reddi Brake Supply Corp. in Ventura, operator of a nationwide chain of auto-parts distribution centers, has replaced a line of credit that was about to expire with Japan's Sumitomo Bank.

The company received a three-year commitment for a $13-million secured revolving credit line from CIT Group/Credit Finance Inc. in New York.

Reddi Brake has been seeking a new financing source since the Bank of New York Commercial Corp. terminated a commitment letter calling for it to replace a $7.2-million line with Sumitomo. That arrangement was due to expire at the end of this month.

Advertisement
Los Angeles Times Articles
|
|
|