News Column

Canada : TELLZA extends Credit Facility to $5 MILLION with ROYAL BANK OF CANADA

June 17, 2014

Tellza Communications Inc declared that it has extended its credit facility from $3.5 million to $5.0 million with its senior lender, Royal Bank of Canada.

The bank has also interest rate has been reduced to bank base plus 2.25% in combination with the increase in Tellza's credit facility. The credit facility will continue to be secured by a first charge over all of the assets of Tellza and advances are subject to the availability of applicable security.

Gary Clifford, Executive Chairman said, Our banker has agreed to expand our borrowing facility and reduced our cost of borrowing to reflect the progress that Tellza continues to make with its growth and profits plans. Our business growth requires additional working capital and the most effective cost of capital for Tellza is senior borrowings.

Tellza is a global communications company operating under several brands including Route Dynamix, Phonetime, Tel3, MatchCom, and Tellza Technologies.

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Source: TendersInfo (India)

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