14th Sep 2015 08:54
LONDON (Alliance News) - Microwave electronic products and wireless telecommunications infrastructure company Filtronic PLC on Monday said one of its US subsidiaries has signed an invoice financing agreement with Faunus Group International Inc, the US-based commercial lender.
Under the agreement, Filtronic Wireless Inc will be able to draw down up to USD3.5 million. The new agreement is in addition to the recently-agreed GBP2.0 million sales invoice financing deal Filtronic's UK subsidiaries struck with Barclays Bank PLC.
Shares in Filtronic were up 4.4% on Monday morning at 7.05 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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