Identiv Announces Amendment To Credit Agreement With Opus Bank

Identiv, Inc. INVE, a global security technology company that provides trusted identity solutions for premises, information, and everyday items, today announced an amendment to its existing credit agreement with Opus Bank. The original agreement, entered into on March 31, 2014, provided for a $10 million term loan and $10 million revolving loan facility. Given Identiv's stronger balance sheet position after the completed public offering in September 2014, the parties have agreed to amend the original agreement with improved financing terms. With the amendment, the term loan maturity will now be due in a lump sum repayment on March 31, 2017 and the annual interest rate has been reduced. The capital availability under the revolving loan facility has been increased from $10 million to $30 million with a new maturity date of November 10, 2017, and the annual interest rate has also been reduced. Lastly, the amendment includes a modification of terms related to Identiv's stock repurchase plan. "Opus Bank has been a solid partner and the restructured facility provides Identiv with improved terms that enhance our operational flexibility," said Jason Hart, Identiv CEO. "With Identiv's recent follow-on offering and the completion of its restructuring activities, the revised terms of Opus' credit facility recognize the much-improved credit profile of Identiv," added Kevin McBride, Senior Managing Director and Head of Opus' Technology Banking.