Nortel has received a new extension for a $750 million “support facility” from the Export Development Canada.

A previous waiver expired on May 29.

The funds cover “certain defaults,” according to Nortel. As of May 28, some $328 million of the facility had been used, the company said.

The new waiver is good through Aug. 30.

Nortel has been rocked recently by financial investigations.

Nortel: www.Nortel.com