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."
About Quantum
Quantum is a leading expert in scale-out storage, archive and
data protection, providing solutions for capturing, sharing and
preserving digital assets over the entire data lifecycle. From
small businesses to major enterprises, more than 100,000 customers
have trusted Quantum to address their most demanding data workflow
challenges. With Quantum, customers can Be Certain™ they have the
end-to-end storage foundation to maximize the value of their data
by making it accessible whenever and wherever needed, retaining it
indefinitely and reducing total cost and complexity. See how at
www.quantum.com/customerstories.
Quantum, the Quantum logo and Be Certain are either registered
trademarks or trademarks of Quantum Corporation and its affiliates
in the United States and/or other
countries. All other trademarks are the property of their
respective owners.
Contact:
Brad Cohen
Public Relations
Quantum Corp.
(408) 944-4044
brad.cohen@quantum.com
Brinlea Johnson or Allise
Furlani
Investor Relations
The Blueshirt Group
(212) 331-8424 or (212) 331-8433
brinlea@blueshirtgroup.com or allise@blueshirtgroup.com
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SOURCE Quantum Corp.