DENVER, Dec 11, 2002 (BUSINESS WIRE) --
U.S. Bancorp (NYSE:USB)
The Andersons, Inc. (Nasdaq:ANDE), a diversified agribusiness and retailing
company based in Maumee, Ohio, has selected U.S. Bank to be its lead arranger
and agent for unsecured, multi-year lines of credit totaling $200 million. The
credit will be used for working capital and general corporate purposes. This is
the first syndicated credit facility for The Andersons.
U.S. Bank has been providing The Andersons, Inc., with credit and treasury
management, as well as a broad range of financial products and services
including purchasing cards, for over ten years.
"We selected U.S. Bank because they are committed to a long-term relationship
and their team delivered a very competitive syndicated transaction for us," said
Gary Smith, vice president finance and treasurer of The Andersons, Inc. "We've
been very pleased with their service and financial expertise."
"The Andersons, Inc. has established itself as a major player in the
Agribusiness industry," said Jim Bosco, senior vice president for U.S. Bank Food
and Agribusiness. "The company is highly respected by the U.S. Bank team and we
are proud to expand our business relationship with them."
The Andersons, Inc. (Nasdaq:ANDE) is a regional grain merchandiser with
diversified businesses in agriculture, fertilizer distribution, turf product
manufacturing and distribution, railcar marketing and general merchandise
retailing that generate revenues of approximately $1 billion per year. Founded
in 1947, the company has grain and production facilities throughout the Midwest,
and six retail locations in northern and central Ohio. The Andersons, Inc.
corporate headquarters is located in Maumee, Ohio. Additional information is
available online at www.andersonsinc.com.
U.S. Bancorp is the parent company of U.S. Bank. U.S. Bancorp (NYSE:USB), with
assets in excess of $174 billion, is the 8th largest financial services holding
company in the United States. The company operates 2,133 banking offices and
4,680 ATMs, and provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to consumers,
businesses and institutions. U.S. Bancorp is home of the Five Star Service
Guarantee which assures customers of certain key banking benefits and services
or customers will be paid for their inconvenience. Visit U.S. Bancorp on the web
CONTACT: U.S. Bank Media Relations
Amy Frantti, 612/303-0733
The Andersons, Inc.
Gary Smith, 419/891-6417
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2002 Business Wire. All rights reserved.
SOURCE: U.S. Bancorp