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(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.
26 Apr 2018 16:02
Corero Network Security Enters GBP3.0 Million Debt Facility
LONDON (Alliance News) - Corero Network Security PLC said on Thursday it has entered a new debt facility that will provide it with additional finance of up to GBP3.0 million, subject to the of the
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