PHDT,AH NEWS
Phinder Receives Term Sheet for $40 Million Dollar Letter of Credit Facility
Tuesday May 29, 4:00 pm ET
OTC BB symbol (PHDT)
MIAMI, May 29 /PRNewswire-FirstCall/ - Phinder Technologies Inc. announced today that it has received a term sheet for a $40 million dollar credit line from Londesborough Finance Ltd., which will be used to issue letters of credit to suppliers of Phinders' wholly owned subsidiary, Zupintra Communications Inc.
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"This facility with Londesborough Finance will provide us with tremendous growth potential," stated John Alexander (Lex) van Arem, CEO of Phinder Technologies. "This credit line will nicely complement our recent accounts receivable package and will allow us to develop and expand our scope of business."
"Londesborough Finance is pleased to provide this facility to Zupintra Communications to allow them to enhance their substantial sales growth opportunities. By using our process Zupintra is able to secure improved and substantial credit lines with their major operators and many of its customers enabling long term growth for the company." stated Guy Jackson, CEO of Londesborough Finance Ltd.
Londesborough Finance Ltd provides financial security instruments such as Bank Guarantees, Standby Letters of Credit or Cash Deposits to telecom suppliers for wholesale international routes on behalf of their customers through a unique credit insured receivables process and CDR ratification. Launched at GTM 2006 Londesborough Finance is globally focused on the wholesale interconnect market where traditionally financing receivables has been non-existent.
Phinder Technologies' core business runs through its wholly owned subsidiary, Zupintra Communications Inc. Zupintra is a facilities based wholesaler of international voice traffic within the carrier to carrier network. As a wholesale VoIP provider, Zupintra Communications Inc. signs both origination and termination contracts with next generation carriers and profits from negotiated rates.
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