Western Resources garners new credit agreement
TOPEKA, Kan.-Western Resources announced in June it had secured a $735 million credit agreement that would provide for a $585 million term loan and a $150 million revolving credit facility, both arranged by J.P. Morgan Securities Inc.
Western will use the proceeds of the term loan to retire an existing credit facility maturing in March 2003 with an outstanding principal balance of $380 million.
Each of the new financing agreements matures June 6, 2005.
Voxcom revenues up 10 percent for fiscal 2002 EDMONTON, Alberta-Voxcom Inc. reported a 10 percent increase in monitoring and service revenues for its fiscal 2002 year, which ended Feb. 28, 2002.
The company also reported a 79 percent increase in EBITDA, increasing it in the fourth quarter by $1.2 million, a 55 percent increase over 2001. For the fiscal year, EBITDA increased to $12.9 million.
Company officials said the significant increases in its EBITDA performance as well as improvements in account creation economies for new security alarm customers were achieved while the company remained focused on service.
BT buys stake in wireless monitoring technology
GLASGOW, Scotland-BT in late May announced that it had paid 3 million pounds for a 30 percent stake in a wireless alarm monitoring technology called Homelink.
The Homelink system uses GSM, a European standard for digital mobile phones. The service is being targeted to the public housing sector, according to David Gordon, Homelink's founder and inventor.
As part of the investment, Brian Myers, a former business development director with BT, has become chief executive of Homelink.