SPAC Vector Intersect Security Acquisition Corp Signs Commitment Letter For New $30 Million Senior Secured Credit Facility

SPAC Vector Intersect Security Acquisition Corp, in connection with its acquisition of Cyalume Light Technologies Inc., signs commitment letter for new $30 million senior secured credit facility with TD Banknorth subject to definitive documentation.

The new credit facility will consist of a revolving credit facility of $5 million which matures three years from the closing date, a senior secured term loan facility of $20 million, and a $5 million commercial real estate mortgage loan both of which mature five years from the closing date.

Cyalume Technologies is the world leader in the chemiluminescent industry providing dependable light for uses by militaries, policemen, firemen and throughout the safety industry. Their chemical lights are depended on in emergencies such as blackouts, industrial accidents, acts of terrorism and natural disasters. The company employs more than 200 people at its world headquarters in West Springfield, Massachusetts.

Read the press release here