Tuesday, December 13, 2011

GigOptix announces revised $6 million credit agreement with Silicon Valley Bank

SAN JOSE, USA: GigOptix Inc. announced that it has revised its credit agreement with Silicon Valley Bank (SVB). This revised agreement provides the company with double the size of the line of credit, lower interest rates, less restrictive covenants and more flexibility with respect to its borrowing base.

“We are constantly impressed by the innovations our clients, like GigOptix, are creating to enable development and economic growth in the tech sector,” said Megan Willard, relationship manager at Silicon Valley Bank. “Working together with GigOptix, we were able to put together a financing solution that will support the company in its next phase of growth.”

GigOptix has renegotiated the agreement with SVB to increase the line of credit to $6 million from the previous $3 million line of credit under the previous agreement, and to lower its interest rates. This line of credit represents the only debt of the company.

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