Debt Renegotiated: Data-Design Laboratories Inc., the Anaheim...
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Debt Renegotiated: Data-Design Laboratories Inc., the Anaheim manufacturer of electronic circuit boards, said last week that it renegotiated its long-term debt with its bankers so that it can postpone principal payments for three years.
The agreement with Sanwa Bank California and the Tokai Bank Ltd. amends Data-Design’s previously scheduled payments on $14 million in loans. Hurt by the computer industry slump, the company had stopped making payments on the debt.
Data-Design will receive a three-year moratorium on payments to Sanwa and a three-year extension of a credit line with Tokai.
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