NeoPhotonics Announces New Credit Facility
September 11 2017 - 8:00AM
Business Wire
NeoPhotonics Corporation (NYSE:NPTN), a leading designer and
manufacturer of optoelectronic solutions for the highest speed
communications networks in telecom and datacenter applications,
today announced that it has entered into a new five year, $50
million revolving credit facility with Wells Fargo Bank, National
Association, effective September 8, 2017.
Upon closing, the Company drew $30 million under the new
facility and will use the proceeds of the credit facility to pay
off its existing facility with Comerica Bank and for working
capital needs and general corporate purposes.
“This new credit facility provides NeoPhotonics with lower
capital costs, an extended maturity and increased borrowing
capacity for continued execution against our strategic priorities
globally,” said Tim Jenks, NeoPhotonics’ President and CEO.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
This press release includes statements that qualify as
forward-looking statements under the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include
statements about the following topics: benefits of the new credit
facility with Wells Fargo Bank, anticipated use of proceeds of the
credit facility, and execution of the Company’s strategic
priorities. Forward-looking statements are subject to certain risks
and uncertainties that could cause the actual results to differ
materially. For discussion of these risks and uncertainties, please
refer to the documents the Company files with the SEC from time to
time, including the Company's Annual Report on Form 10-K for the
year ended December 31, 2016 and its Form 10-Q for the six months
ended June 30, 2017. All forward-looking statements are made as of
the date of this press release, and the Company disclaims any duty
to update such statements.
About NeoPhotonics
NeoPhotonics is a leading designer and manufacturer of
optoelectronic solutions for the highest speed communications
networks in telecom and datacenter applications. The Company’s
products enable cost-effective, high-speed data transmission and
efficient allocation of bandwidth over communications networks.
NeoPhotonics maintains headquarters in San Jose, California and ISO
9001:2000 certified engineering and manufacturing facilities in
Silicon Valley (USA), Japan and China. For additional information
visit www.neophotonics.com.
©2017 NeoPhotonics Corporation. All rights reserved.
NeoPhotonics and the red dot logo are trademarks of NeoPhotonics
Corporation. All other marks are the property of their respective
owners.
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NeoPhotonics CorporationBeth Eby, +1-408-895-6086Chief Financial
Officerir@neophotonics.comorSapphire Investor Relations, LLCErica
Mannion, +1-617-542-6180Investor Relationsir@neophotonics.com
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