# Spinnova signs EUR 1.5M loan deal with Tearfil

Spinnova signed a binding EUR 1.5 million loan agreement to provide bridge financing to Portuguese yarn spinner Tearfil, as part of a planned acquisition of all Tearfil shares.

- Type: Contract
- Announced: 2019-09-03
- Where: Guimarães, Portugal, Portugal
- Value: $1.70M (1.50M EUR)
- Status: announced
- Products: yarn, fiber technology
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Spinnova](https://endata.com/companies/16125.md)
- [Tearfil](https://endata.com/companies/41820.md) (partner)

## Sources

- [wwd.com](https://wwd.com/sourcing-journal/industry-news/spinnova-tearfil-loan-acquisition-nasdaq-1239297360/), 2019-09-03: "Tearfil has been an important partner for Spinnova, playing a key role in advancing Spinnova fiber toward commercial applications."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.