Health IT provider iSOFT (ASX:ISF) has secured a $30 million credit facility from a US-based investment fund.
The equity line of credit, supplied by YA Global Master SPV, will be used to replenish cash balances drawn down to fund the acquisitions of FY10.
Under the terms of the agreement iSOFT has the option to issue shares at its discretion to YA Global up to a total of $30 million over the next 60 months.
While the shares will be ordinary, and thus entitled to dividends, there is currently no expectation that a dividend will be paid out for the current financial year.
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