Repayment of loan notes

RNS Number : 9714R

Corero Network Security PLC

01 November 2013

 



1 November 2013

Corero Network Security plc (AIM: CNS)

("Corero", the "Group" or the "Company")

Repayment of Loan Notes

Corero Network Security plc, the network security provider, is pleased to announce that it has elected to repay its existing loan notes with a face value of $5.0 million (the "Loan Notes") in full, together with accrued interest of approximately $1.16 million, and in advance of their maturity date in March 2014.

The Loan Notes were issued in March 2011 as part of the consideration paid for the acquisition of Top Layer Networks, Inc. The Loan Notes accrued interest at a rate of 8% per annum and were secured on the assets of Top Layer Networks, Inc. (since renamed as Corero Network Security, Inc.).

Enquiries:

Corero Network Security plc
Andrew Miller, Group Chief Financial Officer	Tel: [phone]
finnCap
Stuart Andrews/Henrik Persson	Tel: [phone]
Walbrook PR Bob Huxford/Helen Westaway (Media Relations)	Tel: [phone] [e-mail]

About Corero Network Security

Corero Network Security is an international network security company and the leading provider of Distributed Denial of Service (DDoS) and cyber-attack defence.  As the First Line of Defense, Corero's products and services stop DDoS attacks, protect IT infrastructure and eliminate downtime. Customers include enterprises, service providers and government organizations worldwide. Corero's appliance-based solutions are dynamic and automatically respond to evolving cyber attacks, known and unknown, allowing existing IT infrastructure -- such as firewalls -- to perform their intended purposes. Corero's products are transparent, highly scalable and feature the lowest latency and highest reliability in the industry.

 

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