Dutch Detron ICT & Telecom Group has secured a new credit line with Rabobank valued at a total of €20.5m (US$25.7m).
The Amsterdam-listed company said it has signed an agreement for a larger working capital facility and loans to refinance debt …
Dutch Detron ICT & Telecom Group has secured a new credit line with Rabobank valued at a total of €20.5m (US$25.7m).
The Amsterdam-listed company said it has signed an agreement for a larger working capital facility and loans to refinance debt accumulated between 2008 and 2011, when the company made several acquisitions. The new loans have a maturity of five years, according to a company statement.
Detron CEO George Banks said the new arrangements are tailored to the company’s current management and market conditions and will help it to improve its services and reach its growth targets.
The company said the new working capital facility better meets its needs given sales have increased from €87m in 2009 to a projected €120m in 2012.
Detron Telecom Solutions services small, medium and large-sized organisations.
