Advanced Energy announces $50M credit deal

FORT COLLINS — Advanced Energy Industries Inc. of Fort Collins said Monday that it reached a $50 million, five-year credit agreement with Wells Fargo Bank N.A.

The deal gives Advanced Energy access to a new revolving line of credit secured by accounts receivable and inventory, the solar and thin films company said. Advanced Energy can draw on the credit for general working capital, capital expenditures and acquisitions.

The credit line can be raised by $25 million for a total of $75 million subject to lender commitments and other conditions.

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“As we continue to execute on our strategic plan, this new line of credit will serve as a solid foundation for future growth and offer an additional source of liquidity for working capital requirements,” Advanced Energy CEO Garry Rogerson said.