Fifth Third Ups Jagged Peak Facility
Jagged Peak, a provider of enterprise-class e-commerce solutions and supply chain services, said that it amended and restated its two-year senior credit facility with Fifth Third Bank to increase borrowing capacity for working capital.
The facility provides a revolving line of credit with a maturity of two years and a maximum borrowing capacity of $5 million. The pricing and covenants were not changed in connection with this amendment.
Highlights of the amended and restated senior credit facility included borrowing capacity increasing to $5 million from $3 million and maturity extending to August 2015.
“This amended facility strengthens our financial flexibility,” says Jagged Peak CFO Albert Narvades. “Fifth Third Bank understands our business and has an appreciation of the improvements in our financial performance. We are pleased with their continued support.”
Jagged Peak is an e-commerce solutions provider with software and services that enhance the scalability, flexibility and profitability of multi-channel online businesses.