Daily News: March 21, 2014

TCA Global Credit Master Fund Commits $4MM to Fortran

Fortran announced that TCA Global Credit Master Fund committed to lend it $4 million through one of the Fund’s senior secured revolving notes, with an initial draw of $900,000. The company meets monthly reporting and collateral requirements to further draw on the revolving credit facility.

Douglas Rink, CEO of Fortran, stated, “We secured this credit facility with TCA Global that will support the company’s financing needs throughout the rest of this year. This facility will assist us with working capital and provide the capital structure needed to further our corporate strategy of continued growth by acquisitions in our Telecom and related divisions.”

Fortran is a communications system integrator through its subsidiaries, NTC, B & L Telephone, CCI-Telecom, Fortran Communications and Wynncom.