Zhone Technologiess entered into an amendment of its existing senior secured revolving credit facility with Wells Fargo Capital Finance, which, among other matters, extended the maturity date of the facility from March 31, 2016 to March 31, 2019. The amendment also changed the financial covenants in the facility and reduced the interest rate margin. Under the facility, Zhone may borrow up to $25 million, with the amount Zhone is able to borrow based on eligible accounts receivable and inventory.

“The extension of our credit facility allows us to continue making investments in our industry leading technologies,” stated Kirk Misaka, chief financial officer of Zhone. “Our partnership with Wells Fargo enables us to grow through innovation.”

“We are very pleased to continue our relationship with Zhone Technologies,” said Gary Harrigian, senior vice president of Wells Fargo Capital Finance. “The extended credit facility will allow them the financial flexibility to make strategic business decisions.”

Oakland, CA-based Zhone Technologies offers fiber access transformation for service provider and enterprise networks, serving more than 750 global network operators.