WPCS Obtains $12M New Bank Credit Facility
WPCS International Incorporated (NASDAQ: WPCS) has announced that it has obtained a new $12 million bank credit facility, which replaces the company's existing credit facility that expired on November 30, 2011.
The new credit facility is with Sovereign Bank, a subsidiary of Santander Group, one of the largest banks in the world. The new banking line is for a $12 million three-year revolving credit facility. Griffin Financial Group LLC, based in King of Prussia, Pennsylvania, acted as the exclusive financial advisor and investment banker for this transaction.
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