DragonWave Inc. (DWI) (NASDAQ: DRWI) said it has amended its existing revolving credit facilities with Comerica Bank and Export Development Canada.
The maximum amount of credit availability under the amended asset-based credit facility has been increased from USD20m USD to USD40m USD. DragonWave currently has USD15m USD drawn on this facility, and access to additional available funds is geared to future growth in accounts receivable. The revolving credit maturity date has also been extended from May 31, 2014 to June 1, 2016.
DragonWave is a provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave´s corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, Asia, the Middle East and North America. For more information, visit http://www.dragonwaveinc.com.