ROCKVILLE, Md., May 26, 2011 (GLOBE NEWSWIRE) -- Telvent (Nasdaq:TLVT), the leading real-time IT solutions and information provider for a sustainable world, announced today that the Company has signed new U.S $135 million senior unsecured syndicated credit facilities arranged by J.P. Morgan Securities LLC and Fifth Third Bank. Lenders in the facility include J.P. Morgan Chase N.A., Fifth Third Bank N.A, KeyBank N.A., SunTrust Bank and PNC Bank N.A.
The credit facilities are comprised of a U.S. $105 million revolving credit facility and a U.S. $30 million term loan. The proceeds of these new credit facilities are for general corporate purposes including the refinancing of existing U.S. bank debt. The credit facilities mature on December 23, 2013.
According to Telvent's Chairman and CEO, Ignacio Gonzalez, "We are very pleased with this new financing agreement in the United Sates, which will help us secure our financial autonomy as well as improve our working capital management while our business keeps growing. With these new credit facilities, we believe that we will be able to achieve full financial independence from our parent company."
Telvent (Nasdaq:TLVT) is a global IT solutions and business information services provider dedicated to helping improve efficiency, safety and security for the world's leading companies. Telvent serves markets that are critical to the sustainability of the planet, including the energy, transportation, agricultural and environmental sectors. ()
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