DragonWave, an Ottawa-based supplier of wireless broadband components, has increased its line of credit.
The company has increased its revolving credit facilities with Comerica Bank and Export Development Canada to US$40 million from US$20 million, it announced on Tuesday.
The maturity date of the asset-backed credit facility has been extended by two years, from May 31, 2014 to June 1, 2016.
(Sponsored)
In a tough economy, investing in community is more important than ever
When finances are tight, it might seem counterintuitive to give back, but supporting our most vulnerable neighbours this holiday season can actually help businesses weather their own challenges. At United
Family-owned Coke Canada Bottling investing to grow in Ottawa-Gatineau
Have you ever wondered where your favourite Coca-Cola products come from? Few people in know that over 300 popular beverages products, like Coca-Cola, Coke Zero, Fuze, Fanta, Monster Energy, A&W
DragonWave currently has US$15 million drawn on the facility.
The packet microwave radio system supplier has struggled to achieve profitability. In October CEO Peter Allen said he didn’t expect to reach profitability from operations until the middle of next year.
DragonWave (TSX: DWI) releases its next quarterly results on Jan. 13.
