HILLSBORO, Ore.--(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.
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.