Itron Announces Expansion of its Revolving Line of Credit
LIBERTY LAKE, Wash., Jun 09, 2010 (BUSINESS WIRE) -- Itron, Inc. (NASDAQ:ITRI) announced today a $125 million expansion of its multicurrency revolving line of credit under its current credit facility. The expansion increased the multicurrency revolving line of credit from $115 million to $240 million. In addition, the number of participating banks increased from four to 10. There were no other changes to the loan agreement. As of March 31, 2010, there were no borrowings outstanding under the revolving line of credit and $34.8 million was utilized by outstanding standby letters of credit. The expanded facility will provide Itron with increased flexibility and liquidity for general corporate purposes.
About Itron:
Itron, Inc. is a leading technology provider to the global energy and water industries. Our company is the world's leading provider of intelligent metering, data collection and utility software solutions, with nearly 8,000 utilities worldwide relying on our technology to optimize the delivery and use of energy and water. Our products include electricity, gas, water and heat meters, data collection and communication systems, including automated meter reading (AMR) and advanced metering infrastructure (AMI); meter data management and related software applications; as well as project management, installation and consulting services. To know more, start here: www.itron.com.
SOURCE: Itron, Inc.
Itron, Inc.
Ranny Dwiggins
Vice President, Investor Relations
509-891-3443
ranny.dwiggins@itron.com
or
Marni Pilcher
Director, Investor Relations
509-891-3847
marni.pilcher@itron.com
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