IEC obtains $65 million line of credit

IEC Electronics Corp. (NASDAQ: IECE) has closed on a $65 million senior credit facility.

Participating in the credit facility are Marine Midland Bank, KeyBank National Association and The Chase Manhattan Bank, with the latter acting as administrative agency for the facility.

Diana R. Kurty, IEC Vice President of Finance and Chief Financial Officer, said, "This significant step forward for IEC approximately doubles our borrowing capacity at more favorable borrowing rates, enabling us to support the Company's growth and aggressively pursue business expansion opportunities."

IEC's Newark facility is located on Norton St.

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