Ciber wins more time to pay back Wells Fargo

DENVER BUSINESS JOURNAL - Ciber Inc. has won more time and now has until March 31 to pay back the $28.2 million it owes on a Wells Fargo credit line.

The Greenwood Village-based IT outsourcing company (NYSE: CBR) has been selling overseas divisions to raise money to repay the San Francisco-based bank without triggering a default.

On Monday, a Ciber filing to the U.S. Securities & Exchange Commission disclosed that Wells Fargo (NYSE: WFC) waived existing claims of default in favor of having Ciber make full repayment on the credit line by month’s end. It previously had a Feb. 28 deadline from Wells Fargo.

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(© 2017 American City Business Journals)


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