Last checked at (Sharecast News) - Cybersecurity and defence company Corero Network Security has entered into a new borrowing facility for up to £3m with its existing banking partner, it announced on Thursday.
The AIM-traded firm said the new borrowing facility comprised a drawn £2.0m term loan facility and an undrawn £1.0m revolving credit facility, for a three-year term; with terms and conditions "at par or better" than its existing facility.
"The net proceeds of this new facility will be used for working capital purposes and the company's on-going investment programme to support Corero's growth strategy through to profitability," the board said in its statement.
At 1023 BST, shares in Corero Network Security were down 5.26% at 13.5p.
2 Dec 2019 15:49
Corero signs two new customers, renews with a third
(Sharecast News) - Network security company Corero Network Security announced orders from two new customers for its 'SmartWall DDoS Protection-as-a-Service' (DDPaaS) solution on Monday, as well as a DDPaaS expansion order from an existing customer, totaling more than $1.1m over the course of the contracts.
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