Radisys Secures Expanded Credit Agreement
September 21 2016 - 5:00PM
Business Wire
Radisys® Corporation (NASDAQ: RSYS), the services acceleration
company, today announced it has entered into a new and expanded
credit agreement, which provides the Company a revolving loan
commitment of $55.0 million with a stated maturity date of
September 19, 2019. An initial principal amount of $10.0 million
was borrowed under the new agreement, the proceeds of which were
used to repay in full the outstanding balance under the previous
credit agreement with Silicon Valley Bank as well as for general
corporate purposes. The per annum interest rate under the credit
agreement is prime plus 0.25% to 0.75%.
Commenting on the agreement, Brian Bronson, President and CEO of
Radisys, stated, “Our newly expanded credit agreement, which
provides an incremental $20 million of working capital
availability, better positions us to support expected future growth
across our business. More specifically, given the increased working
capital requirements tied to our DCEngine products, the expanded
credit line will be a contributor to our success in securing and
servicing future orders from both new and existing customers.”
Additional details about the amended credit agreement can be
found in the Form 8-K filed by the Company with the U.S. Securities
and Exchange Commission at www.sec.gov.
About Radisys
Radisys helps communications and content providers, and their
strategic partners, create new revenue streams and drive cost out
of their services delivery infrastructure. Radisys’ hyperscale
software defined infrastructure, service aware traffic distribution
platforms, real-time media processing engines and wireless access
technologies enable its customers to maximize, virtualize and
monetize their networks. For more information about Radisys please
visit www.radisys.com.
Radisys® is a registered trademark of Radisys.
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version on businesswire.com: http://www.businesswire.com/news/home/20160921006525/en/
Company Contact:Radisys IncorporatedJon Wilson,
503-615-1685Chief Financial
OfficerJon.Wilson@radisys.comorInvestor Relations
Contact:Shelton GroupBrett L Perry, 214-272-0070Vice President,
IRRadisysIR@sheltongroup.com
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