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SMTC amends credit agreements to improve capital structure

Aug 12, 2019 - Marketline Newswire

SMTC announced that it has amended its credit agreements as part of its ongoing activities to improve its capital structure.

On August 8th SMTC amended its credit agreements and reduced its Term A loan outstanding balance from $50 million to $40 million. The amended credit agreements improve our financial covenants, lowers our cash-interest costs and expands borrowing capacity under our asset-based revolving credit facility to $65 million from $45 million. The revised credit agreements ar...