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.
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