Westell Technologies extends maturity date on credit facility with PrivateBank and Trust
By APMonday, March 8, 2010
Westell extends credit facility maturity date
AURORA, Ill. — Westell Technologies Inc. said Monday that it amended its credit facility agreement with the PrivateBank and Trust Co. to extend the maturity date to March 31, 2011.
Westell, a provider of broadband products and telecommunications equipment, said it has not borrowed under the facility and maintains it as a source of extra liquidity.
Under the amendment, certain undisclosed provisions of the facility were also changed.
The company held cash and cash equivalents totaling $58.1 million as of Dec. 31.
The company is based in Aurora, Ill. Its shares fell 3 cents, or 2 percent, to $1.46 in late afternoon trading.
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