FatPipe (NASDAQ: FATN) Refinances Existing Debt and Reduces Borrowing Costs
Key Highlights
- ➤$4.5 million term loan refinances FatPipe’s existing Fortis Bank SBA debt
- ➤Borrowing rate falls approximately 110 basis points versus previous facility
- ➤$1.5 million secured revolving credit line established for working capital
- ➤Term loan matures October 2029; revolving line matures September 2027
SALT LAKE CITY, UT / ACCESS Newswire / October 7, 2026 / FatPipe, Inc. (NASDAQ:FATN), a provider of enterprise networking and cybersecurity solutions, today announced the refinancing of its existing Fortis Bank SBA loan through a $4.5 million secured term loan with KeyBank National Association. The Company also established a $1.5 million secured revolving line of credit for working capital.
The new term loan bears interest at adjusted daily SOFR plus 3.00%, compared with Prime Rate plus 1.00% under the previous facility. Based on benchmark rates at the time of refinancing, this represents an approximately 110 basis point reduction in the Company's annual borrowing rate. Actual interest savings will vary with benchmark rates and outstanding principal balances.
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