Rocket Fuel Announces $100 Mln Credit Facility

(RTTNews) - Rocket Fuel Inc. (FUEL), a provider of artificial intelligence or AI advertising solutions for digital marketers, announced that it had entered into a $100 million syndicated credit facility led by Comerica Bank on December 20, 2013. The syndicate also includes Silicon Valley Bank and City National Bank. This credit facility amends and restates Rocket Fuel's existing Loan and Security Agreement dated April 7, 2010.

With the amended facility, Rocket Fuel's liquidity reserves comprising cash and committed credit facilities will help support future growth and financial flexibility for Rocket Fuel in the coming years.

The facility is available to fund working capital growth, capital expenditures, and other general corporate purposes. The facility expires on December 20, 2018 with respect to term loans and on December 20, 2016 with respect to revolving loans.