Photronics Enters Into $27.2M Credit Facility

BROOKFIELD, Conn. (AP) — Photronics Inc. said Monday it entered into a $27.2 million credit facility with its existing lenders and repaid a foreign loan of the same amount.

The company said it aligned the maturity date of the new loan with its existing credit line, extending the repayment term of $18.1 million in debt by another year.

Photronics said $9.1 million of the new credit facility will come due on Jan. 31, with the balance coming due one year later.

The company manufactures photomasks, which are quartz plates that are used in semiconductors and flat-panel displays.

Shares of Photronics fell 13 cents, or 3.3 percent, to $3.76 in morning trading.