• by Tyler Loechner  @mp_tyler, December 26, 2013

Rocket Fuel today announced it has updated its credit line to give the company the ability to borrow up to $100 million, as needed. The new syndicated credit facility is led by Comercia Bank, and the deal was officially completed on December 20. Other credit providers included Silicon Valley Bank and City National Bank.

According to the release, this new credit facility “amends and restates Rocket Fuel’s existing Loan and Security Agreement dated April 7, 2010.” In other words, this potential $100 million deal is the company’s new Loan and Security Agreement.

J. Peter Bardwick, Rocket Fuel’s CFO, stated, "This increase in our banking lines, plus our strong cash position of $125 million at the end of the third quarter, gives us flexibility to fund our growth."

The company will use the money as working capital and for general purposes -- no specific plans have been announced.

Per the release, the term loans of the credit facility are due by December 20, 2018, and the revolving loans of the deal are due by December 20, 2016.