Trinsic, Inc., a leading provider of enhanced circuit-switched and IP (Internet protocol) telephony services has entered into an accounts receivable financing facility with Thermo Credit LLC ("Thermo").
The facility will provide for Trinsic to sell eligible accounts receivable to Thermo under a factoring arrangement in amounts up to US$21m.
Trey Davis, Trinsic's chief executive officer, commented, “We intend to utilise our facility with Thermo to replace our existing credit facility with Textron Financial. We believe this new facility will provide ample liquidity for our immediate needs. We expect to transition to the Thermo facility in late April. We are pleased that we were able to find a financial partner that is experienced in telecommunications financing.”
