AERT Refinances $17 Million in Bonds
by October 27, 2003 12:00 am 59 views
Advanced Environmental Recycling Technologies Inc. of Springdale said in October it completed a $17 million refinancing of its previously issued City of Springdale 1999 Industrial Development bonds, the proceeds of which have been escrowed.r
AERT said it refinanced the $17 million with a combination of $14.4 million of tax exempt bonds and a $2.6 million long-term promissory note. The company said the financing strengthens its balance sheet and assists with its continued capital expansion program.r