JetForm Secures C$10M Term Loan,C$10M Revolving Credit Line
OTTAWA (Dow Jones)--JetForm Corp. (FORM) said it has amended its credit facilities with Royal Bank of Canada (RY).
In a press release, the company said its existing C$20 million operating line of credit has been used to secure a term loan of C$10 million payable on June 30, 2000. It said the proceeds of the C$10 million loan were used to replenish its cash reserves after funding the March 27 payment of JetForm's debt to Delrina Corp. JetForm said its operating line of credit, which is currently unutilized, has been amended to C$10 million.
JetForm said its cash balance at Jan. 31 was C$50 million, with an additional C$56 million in receivables. It said total debt, including the term loan, is now about C$33 million, of which C$10.4 million is payable after April 30, 2000.
JetForm Corp. makes Web-based software solutions that automate business processes. |
