WPCS (WPCS) Entes New $12M Facility
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WPCS International Incorporated (Nasdaq: WPCS), announced that it has obtained a new $12 million bank credit facility, which replaces the company's existing credit facility that expired on November 30, 2011.
The new credit facility is with Sovereign Bank, a subsidiary of Santander Group, one of the largest banks in the world. The new banking line is for a $12 million three-year revolving credit facility. Griffin Financial Group LLC, based in King of Prussia, Pennsylvania, acted as the exclusive financial advisor and investment banker for this transaction.
The new credit facility is with Sovereign Bank, a subsidiary of Santander Group, one of the largest banks in the world. The new banking line is for a $12 million three-year revolving credit facility. Griffin Financial Group LLC, based in King of Prussia, Pennsylvania, acted as the exclusive financial advisor and investment banker for this transaction.
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