TowerJazz Gets $70M Credit Line

Newport Beach-based semiconductor foundry TowerJazz said early this morning that it has received a $70M, credit line from Wells Fargo Capital Finance, as part of an extention of an existing agreement wih Wells Fargo. According to TowerJazz, the new credit line extends an existing line of credit from $45M to $70M, and will help the company "achieve its strategic goals". Terms of the credit line were not announced.