| Vertical Communications Secures $10 Million Line of Credit with ...
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Vertical Communications (VRCC.OB) ("Vertical"), a leading provider of next-generation, IP-based phone systems and applications that help businesses better serve their customers, announced today it has secured a $10 million line of credit from SVB Silicon Valley Bank. The financing will be used for working capital and to support Vertical's growth strategies. SVB Silicon Valley Bank is the commercial banking arm of SVB Financial Group (NASDAQ: SIVB). "As we continue to transform Vertical and execute our growth strategy, it is important to establish a banking and lending relationship with a partner familiar with our industry and our business plan," said Bill Tauscher, chairman and chief executive officer. "The new line of credit facility with SVB Silicon Valley Bank allows us to pay off a higher cost short-term obligation and provides us with improved flexibility to manage our working capital requirements into the future." "SVB is proud of Vertical's success thus far," said Irina Case, senior relationship manager, SVB Silicon Valley Bank.
Parquet-Hall loaned a credit line from Sberbank worth 110 mil rub
Parquet-Hall-Service Ltd., a SVP-company of Parquet-Hall OJSC, loaned a syndicated credit line from Sberbank worth 110 mil rub, said in the company's announcement.
Credit maturity is 1.5 years.
Parket-Hall was founded in 1993. The company produces above 3,000 types of block parquet, fabricated wood block flooring, laminated plastic, lacquer, glue, etc.
Company's subcontractors are Upofloor, Tarkett, Nolte, Bona, Lagler.
At present company's debut bond is floated. On April 2007 the company issued 300 thd securities at 1 thd rub par value. Bonds' maturity is 3 years. First coupon rate was set at 13.1% per annum. 2-12 coupons are equal to the first one. FFMS registered the issue under 4-01-36226-R serial number.
"AK&M", 04/06/2007 .
Portfolio Recovery Associates Closes on Expanded $150 Million ...
NORFOLK, VA -- (MARKET WIRE) -- 05/07/07 -- Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that purchases and manages portfolios of defaulted consumer receivables and provides a broad range of accounts receivable management services, announced today it has closed on an expanded $150 million bank credit line. This credit line expansion is one component of a three-part program announced on April 24, 2007 to move toward optimizing the Company's capital structure. In addition to the larger credit line, this program includes the previously announced $1 per share, one-time special dividend and one million share stock repurchase program. The expanded $150 million line, which includes an option to set a 5-year fixed-rate tranche of $50 million, doubles the Company's credit line from the prior $75 million.
|
