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Press ReleaseZhone Technologies Renews Credit Facility with Silicon Valley BankOakland, CA — March 16, 2009 —
Zhone Technologies, Inc. (NASDAQ: ZHNE), a global leader in multi-service
access solutions, announced today that it has renewed its credit facility with
Silicon Valley Bank. The facility provides working capital financing of up to
$20.0 million to support borrowings and letters of credit. Zhone has renewed
this facility every year since 2003 on substantially similar terms. Details of
the arrangement can be found in the loan agreement and disclosures included in
Zhone's Annual Report on Form 10-K for the year ended December 31,
2008.
"The renewal of this credit facility provides the necessary liquidity for
us to continue to expand the breadth and enhance the capabilities of our
product offerings," stated Kirk Misaka, Zhone's Chief Financial
Officer. "Silicon Valley Bank has provided us with working capital
financing since 2003 and continues to be an important financing partner for
us." About Zhone Technologies - Access for a Converging World
Zhone Technologies, Inc. (NASDAQ: ZHNE) is a global leader in
multi-service access network (MSAN) solutions, serving more than 700 of
the world's most innovative network operators. The company offers
the industry's only fully-integrated portfolio of MSAN, FTTx, EFM
and Wi-Fi access technologies, enabling a full suite of services,
including residential and business broadband, VoIP, and High-Definition
IPTV. Zhone's converged multi-service access platform helps
operators rapidly deploy premium services using copper, fiber, and
wireless while improving network agility and reducing costs. Based in
the United States, Zhone is the only vendor in the field whose MSAN
platforms are all manufactured in the USA, and our facilities are
emission, waste-water and CFC free. www.zhone.com
Contacts:
Zhone, the Zhone logo, and all Zhone product names are trademarks of Zhone Technologies, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or product names are all subject to change without notice. |
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