SAN JOSE, Calif., Nov. 16, 2015 /PRNewswire/ -- Quantum Corp. (NYSE: QTM) today announced that on Nov. 13, 2015, it repaid the remaining $3 million of its convertible notes due yesterday, at par plus interest. The company used its revolving $75 million credit facility with Wells Fargo Capital Finance, LLC to fund the repayment.
"We have now eliminated all of the original $135 million in convertible debt that was due to mature this month, with roughly equal repayments having come from cash generated from operations and our revolving credit facility," said Linda Breard, senior vice president and CFO at Quantum. "This represents a notable improvement in our balance sheet."
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Contact: Brad Cohen Public Relations Quantum Corp. (408) 944-4044 email@example.com
SOURCE Quantum Corp.