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Zhone Technologies Renews Credit Facility With Silicon Valley BankOAKLAND, Calif. --(Business Wire)-- Zhone Technologies, Inc. (NASDAQ:ZHNE), a global leader in multi-service access solutions, announced today that it has renewed its credit facility with Silicon Valley Bank. The facility provides working capital financing of up to $20.0 million to support borrowings and letters of credit. Zhone has renewed this facility every year since 2003 on substantially similar terms. Details of the arrangement can be found in the loan agreement and disclosures included in Zhone's Annual Report on Form 10-K for the year ended December 31, 2008. "The renewal of this credit facility provides the necessary liquidity for us to continue to expand the breadth and enhance the capabilities of our product offerings," stated Kirk Misaka, Zhone's Chief Financial Officer. "Silicon Valley Bank has provided us with working capital financing since 2003 and continues to be an important financing partner for us." About Zhone Technologies — Access for a Converging World Zhone Technologies, Inc. (NASDAQ:ZHNE) is a global leader in multi-service access network (MSAN) solutions, serving more than 700 of the world's most innovative network operators. The company offers the industry's only fully-integrated portfolio of MSAN, FTTx, EFM and Wi-Fi access technologies, enabling a full suite of services, including residential and business broadband, VoIP, and High-Definition IPTV. Zhone's converged multi-service access platform helps operators rapidly deploy premium services using copper, fiber, and wireless while improving network agility and reducing costs. Based in the United States, Zhone is the only vendor in the field whose MSAN platforms are all manufactured in the USA, and our facilities are emission, waste-water and CFC free. www.zhone.com Zhone, the Zhone logo, and all Zhone product names are trademarks of Zhone Technologies, Inc. Other brand and product names are trademarks of their respective holders. |
