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Article: United States : Arise Tech says extends bank credit line, shares rise.
- Article from:
- TendersInfo
- Article date:
- August 10, 2009
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Byline: babalu03
Arise Technologies Corp (APV.TO) said it reached an agreement with Commerzbank AG to extend a 10 million euros ($14.4 million) secured bank credit facility by four months, sending its shares up as much as 15 percent.
Arise said Commerzbank also agreed to defer by one year the quarterly repayments of Arise's 12.6 million euros long-term debt facility, the company said in a statement.
"It certainly provides a window of opportunity to address our biggest concern, which is their working capital position," Fraser Mackenzie analyst John Safrance told Reuters.The Waterloo, Ontario-based solar technology company said in an email that ...