- News
13 December 2011
GigOptix doubles Silicon Valley Bank credit agreement to $6m
GigOptix Inc of San Jose, CA, USA (which supplies semiconductor and optical components including modulator and laser drivers and transimpedance amplifier ICs based on III-V materials) has revised its credit agreement with Silicon Valley Bank (SVB).
The revision to the original agreement (of April 2010) provides double the size of the line of credit (up from $3m to $6m), lower interest rates, less restrictive covenants, and more flexibility with respect to its borrowing base.
“We are constantly impressed by the innovations our clients, like GigOptix, are creating to enable development and economic growth in the tech sector,” says Megan Willard, relationship manager at Silicon Valley Bank (a provider of diversified financial services to emerging growth and established technology companies). “Working together with GigOptix, we were able to put together a financing solution that will support the company in its next phase of growth,” she adds.
The line of credit represents GigOptix’s only debt.
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