SecureAlert, Inc. , a global tracking and electronic monitoring services company, announced that it has entered into a $25 million unsecured loan facility agreement with Singapore-based Tetra House Pte. "The new loan facility is an important milestone that underscores the success of SecureAlert's comprehensive restructuring efforts," said Director and Executive Committee member David Boone . "Following the award of a $70 million multi-year contract with the Chilean Gendarmerie late last year, this new financing agreement is another clear sign that we are well on our way to full recovery. This new facility will ensure we can continue to focus on delivering value- added services to our expanding customer base in parallel with delivering superior shareholder value." In a release, the Company said the facility provides SecureAlert with working capital for general corporate purposes as well as funding for future acquisitions, both in the U.S. and internationally. Under the terms of the agreement, SecureAlert will be able to borrow up to $25 million until May 31 , at an interest rate of eight percent (8 percent) per annum. The company has already submitted a utilization request for $10 million against the loan facility and expects this initial draw to be funded within days. SecureAlert filed a Form 8-K disclosing the loan facility agreement with Tetra House on Jan. 7 . More information: www.securealert.com ((Comments on this story may be sent to email@example.com ))
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