Tri-Tech Announces $3.5 Million Revolving Line of Credit from BMO Harris Bank

Tri-Tech Announces $3.5 Million Revolving Line of Credit from BMO Harris Bank

PR Newswire

BEIJING, March 14, 2013

BEIJING, March 14, 2013 /PRNewswire-FirstCall/ -- Tri-Tech Holding Inc.
(Nasdaq: TRIT), which provides turn-key water resources management, water and
wastewater treatment, industrial safety and pollution control solutions,
announced today that its subsidiary Tri-Tech Infrastructure LLC ("Tri-Tech
U.S.") has entered into a $3.5 million revolving credit facility with BMO
Harris Bank in Chicago.

(Logo: http://photos.prnewswire.com/prnh/20100603/CNTH016LOGO )

Approximately $2 million of the line of credit has been earmarked for
export-import working capital needs to allow Tri-Tech U.S. to bid for foreign
projects. This portion is guaranteed by the Export-Import Bank. The remaining
$1.5 million, guaranteed by Tri-Tech Holding Inc., will be used to issue
Standby Letters of Credit. The revolving line of credit has a term of one year
based on the percentage of eligible export-related inventory and foreign
receivables. The transaction closed on January 31, 2013. The revolving line of
credit expires within 12 months from date of funding with prime-based variable
interests rates. Under the line of credit, Tri-Tech U.S. will be tested
annually by BMO Harris Bank to confirm a minimum debt service coverage ratio
of 1.25. 

Mr. Phil Fan, Tri-Tech Holding Inc. CFO, commented, "We are pleased to have
access to this secured revolving line of credit from BMO Harris Bank. The line
of credit is structured to provide significant credit availability for our
oversea business over the short term. We believe this facility will provide
sufficient liquidity to support the awards and execution of our recent bids
and contracts. In addition to strengthening our balance sheet, this new credit
facility will provide us with additional financial flexibility as we continue
to pursue our growth strategies in overseas markets."

About BMO Harris Bank

Based in Chicago, BMO Harris Bank N.A. provides a broad range of personal
banking products and solutions through over 600 branches and approximately
1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota,
Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team
provides a combination of sector expertise, local knowledge and mid-market
focus throughout the U.S. Deposit and loan products and services provided by
BMO Harris Bank N.A. Member FDIC. BMO Harris Bank^SM is a trade name used by
BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North
American financial organization with 1,600 branches, and a retail deposit base
of approximately $180 billion.

About Tri-Tech Holding Inc.

Tri-Tech is an innovative provider of consulting, engineering, procurement,
construction and technical services. The Company supports government, state
owned entities and commercial clients by providing efficiency oriented
solutions focused on treatment of water and waste water, management of water
resources and water-efficient irrigation, as well as industrial emission and
safety controls. With software copyrights, product patents, and capable
employees in China, the U.S. and India, Tri-Tech's capabilities span the cycle
of innovation. Please visit www.tri-tech.cn for more information.

An online investor kit including a company profile, presentations, press
releases, current price quotes, stock charts and other valuable information
for investors is available at www.tri-tech.cn/ir. To subscribe to future
releases via e-mail alert, visit www.tri-tech.cn/ir/info/request.

This press release contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
include references to the line of credit and transactions referenced herein
and other statements concerning plans, objectives, goals, strategies, future
events such as project payments, results of marketing efforts or performance,
and underlying assumptions and other statements that are other than statements
of historical facts. These statements are subject to uncertainties and risks
including, but not limited to, product and service demand and acceptance,
changes in technology, economic conditions, the impact of competition and
pricing, government regulation, and other risks contained in reports filed by
the company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether made by or on
behalf of the company, are expressly qualified by the cautionary statements
and any other cautionary statements which may accompany the forward-looking
statements. In addition, the company disclaims any obligation to update any
forward-looking statements to reflect events or circumstances after the date
hereof.

Tri-Tech Holding Inc.
www.tri-tech.cn
IR Department
+86 10 57323666
ir@tri-tech.cn

SOURCE Tri-Tech Holding Inc.

Website: http://www.Tri-Tech.cn
 
Press spacebar to pause and continue. Press esc to stop.