NeoPhotonics Announces New Credit Facility
SAN JOSE, Calif.--(BUSINESS WIRE)--Sep. 11, 2017--
NeoPhotonics Corporation (NYSE:NPTN), a leading designer and
manufacturer of optoelectronic solutions for the highest speed
communications networks in telecom and datacenter applications, today
announced that it has entered into a new five year, $50 million
revolving credit facility with Wells Fargo Bank, National Association,
effective September 8, 2017.
Upon closing, the Company drew $30 million under the new facility and
will use the proceeds of the credit facility to pay off its existing
facility with Comerica Bank and for working capital needs and general
“This new credit facility provides NeoPhotonics with lower capital
costs, an extended maturity and increased borrowing capacity for
continued execution against our strategic priorities globally,” said Tim
Jenks, NeoPhotonics’ President and CEO.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995
This press release includes statements that qualify as forward-looking
statements under the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements about the following
topics: benefits of the new credit facility with Wells Fargo Bank,
anticipated use of proceeds of the credit facility, and execution of the
Company’s strategic priorities. Forward-looking statements are subject
to certain risks and uncertainties that could cause the actual results
to differ materially. For discussion of these risks and uncertainties,
please refer to the documents the Company files with the SEC from time
to time, including the Company's Annual Report on Form 10-K for the year
ended December 31, 2016 and its Form 10-Q for the six months ended June
30, 2017. All forward-looking statements are made as of the date of this
press release, and the Company disclaims any duty to update such
NeoPhotonics is a leading designer and manufacturer of optoelectronic
solutions for the highest speed communications networks in telecom and
datacenter applications. The Company’s products enable cost-effective,
high-speed data transmission and efficient allocation of bandwidth over
communications networks. NeoPhotonics maintains headquarters in San
Jose, California and ISO 9001:2000 certified engineering and
manufacturing facilities in Silicon Valley (USA), Japan and China. For
additional information visit www.neophotonics.com.
©2017 NeoPhotonics Corporation. All rights reserved.
NeoPhotonics and the red dot logo are trademarks of NeoPhotonics
Corporation. All other marks are the property of their respective owners.
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Source: NeoPhotonics Corporation
Beth Eby, +1-408-895-6086
Investor Relations, LLC
Erica Mannion, +1-617-542-6180