Quantum amends credit line agreement to provide additional flexibility for repayment of convertible notes

Quantum amends credit line agreement to provide additional flexibility for repayment of convertible notes 17 August 2015

Quantum amends credit line agreement to provide additional flexibility for repayment of convertible notes

SAN JOSE, Calif. Monday 17 August 2015 Quantum Corp. (NYSE: QTM) has announced that it has amended its credit agreement with Wells Fargo Capital Finance, LLC to provide additional flexibility in using proceeds from loans under the agreement to repay the $84 million in convertible notes due 15 August 2015. Among other changes, the amendment increases the amount of foreign accounts receivable and intellectual property assets included in the borrowing base and modifies the maturity date.

As we've previously stated, we have the resources to pay off the convertible notes due this November and expect to utilise a combination of our cash on hand, cash we generate from operations and the $75 million revolver provided for under the Wells Fargo credit agreement, said Linda Breard, senior vice president and CFO at Quantum. The credit agreement amendment announced today gives us more freedom in determining the exact combination of resources we will use to meet this obligation.

For additional information on the amended credit agreement, please refer to Quantum's Form 8-K filing with the U.S. Securities and Exchange Commission, dated 13 August 2015.

About Quantum

Quantum is a leading expert in scale-out storage, archive and data protection, providing solutions for capturing, sharing and preserving digital assets over the entire data lifecycle. From small businesses to major enterprises, more than 100,000 customers have trusted Quantum to address their most demanding data workflow challenges. With Quantum, customers can Be CertainTM they have the end-to-end storage foundation to maximise the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity. See how at www.quantum.com/customerstories.

* Compatibility certification via Interoperability Verification Testing and Cisco Validated Design is designed to simulate typical customer configurations and does not replace the need for on-site testing and interoperability validation in conjunction with actual implementation.

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