WPCS Obtains $12M New Bank Credit Facility

WPCS International Incorporated

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.