Blonder Tongue Refinances

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Blonder Tongue Laboratories Inc. said Friday that it signed a commitment letter with National City Business Credit to refinance its existing indebtedness with Commerce Bank.

The broadband-systems-equipment vendor said the refinancing consists of a $10 million asset-based revolving line of credit and a $3.5 million amortizing term-loan facility. The term-loan facility will require principal payments of $19,444 on a monthly basis. The refinancing matures in three years from the date of closing. All of the company’s assets will secure the $13.5 million facility.

Blonder Tongue anticipates closing on the facility during the fourth quarter of 2005.

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