Corero Network Security PLC (LON:CNS) said it entered a new borrowing facility for up to £3mln with its existing banking partner.
The new facility comprises a drawn £2mln term loan facility and an undrawn £1mln revolving credit facility for three-years. The terms and conditions at par or better than the existing facility.
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The firm added the net proceeds will be used for working capital purposes and for its ongoing investment programme to support its growth strategy through to profitability.
Corero’s shares were steady at 14.3p in early deals on Thursday.