ROANOKE, Va., April 26, 2011 /PRNewswire/ -- optical fiber cable Corporation  today announced that it has refinanced $8.3 million in real estate term loans to lower OCC's fixed interest rate and extend the maturity date.

Pursuant to a loan modification agreement entered into by OCC and Valley Bank, the fixed interest rate of OCC's two real estate term loans was lowered to 5.85% from 6.0%, and the maturity date of the loans was extended to April 2018 from June 2013.

The two loans were originally obtained in May 2008 in connection with OCC's acquisition of Superior Modular Products, Incorporated (also known as SMP Data Communications), and are generally secured by the land and buildings at OCC's headquarters and manufacturing facilities located in Roanoke, Virginia and its manufacturing and office facilities located nearAsheville, North Carolina.

In addition to the two real estate term loans, OCC also has a $6 million revolving credit facility with SunTrust Bank, which expires in May 2012.

Neil Wilkin, President and Chief Executive Officer of OCC, said, "The refinancing of our real estate term loans increases OCC's financial flexibility and positively reflects the strength of our balance sheet, operating cash flow and financial prospects.

Author: Zhejiang Changxing Deliver Photoelectricity Equipment Co.,Ltd
Website: http://www.deliver.com.cn/
Main Product:optical fiber cable