May 6, 2010 (FinancialWire) — Optical Cable Corp. (NASDAQ: OCCF) said it has closed a new two-year, $6 million revolving credit facility.  

Under the terms of the new revolving credit facility, SunTrust Bank is providing OCC with a $6 million revolving line of credit through May 31, 2012.

OCC closed on the new credit facility on April 30, and said it plans to use the credit facility to fund working capital needs.  

The new revolving credit facility with SunTrust Bank replaces OCC's existing $3 million working capital line of credit with Valley Bank, and OCC and Valley Bank said they have entered into a loan modification agreement to facilitate OCC's new banking relationship with SunTrust.

Valley Bank will continue to be OCC's lender under two existing real estate loans obtained by OCC in connection with its acquisition of Superior Modular Products on May 30, 2008.  

Virginia-based Optical Cable manufactures a range of fiber optic and copper data communications cabling and connectivity solutions primarily for the enterprise market.

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