Zhone Technologies, Inc. ZHNE, a
global pioneer in FTTx network access solutions, today announced that it has
entered into a new credit facility arrangement with Wells Fargo Capital
Finance, part of Wells Fargo & Company WFC. This facility provides
working capital financing of up to $25.0 million to support borrowings and
letters of credit. The term of the facility extends for two years through
March 2014. This credit facility replaces Zhone's previous facility with
Silicon Valley Bank. Details of the arrangement can be found in the loan
agreement and disclosures to be included in Zhone's Annual Report on Form 10-K
for the year ended December 31, 2011.
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