MONTREAL, November 1, 2012 - TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, announced today that it has completed a financing agreement of up to $10 million with the National Bank of Canada to support the Company’s growth.
The $10 million financing agreement includes:
• A five-year $5.0 million term loan.
• A $5.0 million operating line of credit.
“Over the last eighteen months we have experienced a significant increase in demand for our software and services resulting in the growth of our backlog, human resources and associated capital infrastructure. We have also accelerated our investments in R&D. The financing agreement we have just concluded will provide us with the added liquidity necessary to take advantage of the current growth opportunity,” commented Peter Brereton President & CEO of TECSYS.
The $10 million financing agreement includes:
• A five-year $5.0 million term loan.
• A $5.0 million operating line of credit.
“Over the last eighteen months we have experienced a significant increase in demand for our software and services resulting in the growth of our backlog, human resources and associated capital infrastructure. We have also accelerated our investments in R&D. The financing agreement we have just concluded will provide us with the added liquidity necessary to take advantage of the current growth opportunity,” commented Peter Brereton President & CEO of TECSYS.
