Epicor Software Amends Deal For Line Of Credit
IRVINE, Calif. (AP) ¿ Epicor Software Corp. on Tuesday said it amended its existing credit facility to provide the company with more operating flexibility.
The business software company said the amended deal eliminates certain fixed charges and replaces them with convenants linked to minimum profitability and liquidity, and reduces the line of credit to $100 million.
The deal also shortens the maturity date by five months to Sept. 30, 2012 and increases the interest rate margin by 2 percent to 2.25 percent.
Epicor shares jumped 79 cents, or 12 percent, to $7.22 in afternoon trading. The stock has moved between $2.33 and $8.24 in the past 52 weeks, and started Tuesday's session up about 34 percent since the start of the year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV