EKINOPS (Euronext Paris - FR0011466069 – EKI), a leading supplier of telecommunications solutions for telecom operators, has drawn up a term sheet with its bank partners with a view to obtaining a new €12 million credit facility.
The loan, 90% of which is guaranteed by the French state under the PGE state-guaranteed loan scheme (ministerial orders of March 23 and April 17, 2020 awarding the state guarantee to credit institutions and finance companies, implementing Article 6 of Law no. 2020-289 of March 23, 2020), will have a maturity of one year with optional extension for up to five additional years (May 2026) at the Company’s discretion.
Meanwhile, US subsidiary EKINOPS Corp. has obtained USD 596,000 of financing under the Paycheck Protection Program (PPP), a scheme offered to SMEs by the Small Business Administration (SBA) in tandem with State governors to help them get through the crisis. This loan is granted for a maximum two-year term with a six-month payment deferral.
About Ekinops
EKINOPS is a leading provider of open and fully interoperable Layer 1, 2 and 3 solutions to service providers around the world. Our programmable and highly scalable solutions enable the fast, flexible and cost-effective deployment of new services for both high-speed, high-capacity optical transport as well as virtualization-enabled managed enterprise services.
Our product portfolio consists of three highly complementary product and service sets: EKINOPS 360, OneAccess and Compose. EKINOPS 360 provides optical transport solutions for metro, regional and long-distance networks with WDM for high-capacity point-to-point, ring and optical mesh architectures, and OTN for improved bandwidth utilization and efficient multi-service aggregation.
OneAccess offers a wide choice of physical and virtualized deployment options for Layer 2 and Layer 3 access network functions.
Compose supports service providers in making their networks software-defined with a variety of software management tools and services, including the scalable SD-WAN Xpress. As service providers embrace SDN and NFV deployment models, EKINOPS enables future-proofed deployment today, enabling operators to seamlessly migrate to an open, virtualized delivery model at a time of their choosing.
A global organization, EKINOPS (EKI) - a public company traded on the Euronext Paris exchange - is headquartered in Lannion, France, and EKINOPS Corp., a wholly-owned subsidiary, is incorporated in the USA.
Name : EKINOPS
ISIN Code : FR0011466069
Mnemonic code : EKI
Number of shares: 24,221,111