FatPipe (NASDAQ: FATN) Refinances Existing Debt and Reduces Borrowing Costs
FatPipe announced that it refinanced its existing Fortis Bank SBA loan with a $4.5 million secured term loan from KeyBank National Association. It also established a $1.5 million secured revolving line of credit for working capital.
Why it matters — The refinancing and new credit line change the company’s debt arrangements and provide a working-capital facility.