6th Mar 2014 12:45
LONDON (Alliance News) - Sopheon PLC said Thursday that it had concluded new debt facilities with Silicon Valley Bank, securing USD3.5 million of working capital for the company.
The software and services company secured new facilities including a term loan of USD500,000, and a USD3 million revolving line of credit.
Silicon Valley Bank is a technology-focused banking organisation.
"We have always seen SVB as a premier financial partner to innovative businesses," said Chief Financial Officer Arif Karimjee in a statement. "It is terrific to be working with SVB's London operation as well as with our existing relationships through the US, giving us a truly international partnership."
Shares in Sopheon were trading down 1.8% at 83.50 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
SPE.L