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Belden also said it is asking a lender to reduce the principal on a senior secured credit facility from $350 million to $250 million and the incremental facility would be reduced from $150 million to $100 million. The company said the lender has agreed to the amendments subject to some closing conditions. (ABC News -- Wire)
AP IMPACT: Weak security enables credit card hacks Jun 21, 2009
Top rated banks offering secured credit card. Featured. (Yahoo News -- Technology)
Six Flags files Chapter 11 bankruptcy Jun 16, 2009
1 billion senior secured credit facility. Six Flags parks, including Six Flags Great America, will continue to operate as usual under reorganization. (Milwaukee Business Journal, WI)
Carmike Cinemas Appoints Current Chairman, S. David Passman III, President and Chief Executive Officer Jun 5, 2009
Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include, but are not limited to: general economic conditions in our regional and national markets; our ability to comply with covenants contained in our senior secured credit agreement; our ability to operate at expected levels of cash flow; financial market conditions including, but not limited to, changes in interest rates and the availability and cost of capital; our... (Yahoo! Wire -- Entertainment News)
Valassis Regains Compliance with Current NYSE Listing Standards Jun 5, 2009
Such factors include, among others, the following: price competition from our existing competitors; new competitors in any of our businesses; a shift in client preference for different promotional materials, strategies or coupon delivery methods, including, without limitation, as a result of declines in newspaper circulation; an unforeseen increase in paper or postal costs; changes which affect the businesses of our clients and lead to reduced sales promotion spending, including, without... (PR Newswire)
Harry Winston Diamond Corporation Announces First Quarter Fiscal 2010 Results Jun 4, 2009
Harry Winston Japan, K.K. maintains secured and unsecured credit agreements with three banks amounting to $21 ... 5 million had been drawn against this secured credit facility which expires on March 31, 2013 ... Harry Winston Japan, K.K. maintains unsecured credit agreements with two banks each amounting to $7. (Canada Newswire)
Affinion Group, Inc. Announces Pricing of $150 Million of 10-1/8% Senior Notes Offering Jun 3, 2009
The senior notes will be guaranteed on a senior unsecured basis by each of the Company's current and future domestic subsidiaries that guarantee the Company's indebtedness under its senior secured credit facility. The 10-1/8% senior notes due 2013 will be issued under a new indenture and will not be part of the same class as the Company's existing 10-1/8% senior notes due 2013. (PR Newswire)
BlackWatch Energy Services Corp. Announces Extension of Credit Facilities Jun 3, 2009
CALGARY, ALBERTA--(Marketwire - June 2, 2009) - BlackWatch Energy Services Corp. ("BlackWatch") (TSX: - ) is pleased to announce that the lenders under BlackWatch's senior secured credit facility, led by the Bank of Nova Scotia, as well as the related party lender under its subordinated loan facility, have agreed to extend the maturity of both the senior and subordinated facility to June 30, 2009. This extension has been implemented to allow BlackWatch additional time to further its ongoing... (CCNMatthews Press Releases)
Colonial Properties closes on $156M credit facility Jun 2, 2009
said it recently closed on a more than $156 million secured credit facility, to be used to pay off some of its debt. The Birmingham-based real estate investment trust (NYSE: CLP) said the facility is comprised of $145. (Birmingham Business Journal, AL)
CapitalSource renews, extends facilities Jun 2, 2009
renewed and extended its remaining secured credit facilities that are maturing this year. The Chevy Chase-based commercial lender (NYSE:CSE) combined CS Funding III and QRS Funding I into a new $107 million facility with a three-year term. (Washington Business Journal, DC)
EXCLUSIVE Interview With Richard Mourdock Jun 1, 2009
Under the terms of the bankruptcy arrangement, the treasurer explained, the secured creditors in Chrysler will get only 29 cents on the dollars for what they invested in the company ... 9 billion worth of secured credit in Chrysler at the time of the deal ... Twenty-nine cents on the dollar for people like that is not just compensation at all, but the government says they have to abide by it, said Mourdock, spelling out the basis for Indiana s lawsuit, This is the first time in the history of... (Human Events Online)
Ameristar adds on to notes offer May 22, 2009
The company said it plans to use proceeds from these offerings to prepay and permanently retire a portion of the revolving loans outstanding under its senior secured credit facility. Chief Executive and Vice Chairman Gordon Kanofsky leads Ameristar Casinos Inc. (Nasdaq: ASCA). (St. Louis Business Journal, MO)
Obama set to approve new rules for credit cards May 22, 2009
Get all details and learn importance of Secured Credit Cards. Find details on the best rewards Cash Back Credit Cards. (Yahoo News)
Spanish Broadcasting System, Inc. Reports Results for the First Quarter 2009 May 17, 2009
As of March 31, (Amounts in thousands) 2009 Cash and cash equivalents $33,936 Total assets $472,690 Senior secured credit revolver due 2010 $15,000 Senior secured credit facility term loan due 2012 312,000 Other debt 7,381 Total debt $334,381 Series B preferred stock $92,349 Total stockholders' deficit $(49,482) Total capitalization $377,248 Fiscal Year Ended March 31, (Amounts in thousands) 2009 2008 Capital expenditures $289 5,013 Cash paid for income taxes, net $22 10. Buzz up. (Yahoo! Wire -- Entertainment News)
LifeCare Holdings, Inc. Announces First Quarter Results May 17, 2009
As of March 31, 2009, we believe we were in compliance with all covenants contained in our senior secured credit facility, as amended ... The senior secured credit facility requires us to comply on a quarterly basis with certain financial covenants, including an interest coverage ratio test and a maximum leverage ratio test, which will become more restrictive over time ... In addition, the senior secured credit facility includes various negative covenants, including limitations on indebtedness,... (PR Newswire)
Sealy Corporation Announces Pricing of Notes and Execution of Other Financing Plan Documentation May 16, 2009
The Company intends to use the net proceeds from the offering of the Notes and the cash posted under the forward purchase contract to repay amounts outstanding under its existing senior secured credit facilities, thereby terminating those facilities, and for general corporate purposes. The Notes will be offered within the United States only to "qualified institutional buyers" pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). (PR Newswire)
Sealy Corporation Announces Comprehensive Refinancing Plan May 14, 2009
TRINITY, N.C., May 13 /PRNewswire-FirstCall/ -- Sealy Corporation (NYSE: ) announced today that it has adopted a comprehensive plan to refinance (the "Refinancing") its existing senior secured credit facilities and replace them with indebtedness that has longer-dated maturities and eliminates quarterly maintenance-based covenants. The plan, which has been unanimously approved by the Company's Board of Directors, would significantly strengthen Sealy's capital structure by enhancing its liquidity... (PR Newswire)
WellCare posts 1Q loss May 12, 2009
4 million on a senior secured credit facility in full on its due date of May 13. WellCare (NYSE: WCG), headquartered in Tampa, provides managed care services exclusively for government-sponsored healthcare programs focusing on Medicaid and Medicare. (Tampa Bay Business Journal, FL)
Affirmative Insurance Holdings Reports First Quarter 2009 Financial Results May 12, 2009
-- On March 27, 2009, the Company entered into an amendment to our senior secured credit facility, which was considered an extinguishment of debt under generally accepted accounting principles. As a result, the Company recorded a $19. (Primezone Releases)
Hayes Lemmerz International, Inc. Reaches Accord With Secured Creditors; Company Announces DIP Facility of Up to $100 Million and Total Liquidity of $138 Million May 12, 2009 Ameristar to raise $500 million May 9, 2009 Kohlberg Capital Corporation Announces First Quarter 2009 Financial Results May 9, 2009 Gold Fields earnings more than double May 8, 2009 THQ Reports Fiscal 2009 Fourth Quarter and Full Year Results May 7, 2009 THQ Announces Commitment for $35 Million Senior Secured Credit Facility May 7, 2009 Home Capital's Strong First Quarter Sustains Momentum: Net Income up 24.9%; Return on Equity was 27.9%; Basic and Diluted Earnings per Share Reach $0.91 May 6, 2009 Crown Holdings Announces Pricing of Senior Notes May 6, 2009 Nalco Announces Offering of $300 Million Senior Unsecured Notes May 5, 2009 MGM MIRAGE Reports First Quarter Financial Results May 5, 2009 Filene's sells Chicago sites to Sears Tower owner, files for Chapter 11 May 5, 2009 Appleton Reports First Quarter 2009 Results May 5, 2009 Last-ditch Chrysler talks fail to sway creditors May 3, 2009 Will Congressman Be Allowed to Use Campaign Donations for Home Security? May 2, 2009 Sussex Bancorp Announces First Quarter 2009 Earnings May 1, 2009 MGM MIRAGE, Dubai World and CityCenter's Lenders Reach Agreement for Completion of CityCenter Apr 30, 2009 MGM Mirage Announces Plan to Fund Cit000005C6yCenter Apr 30, 2009 Level 3 Closes $220 Million Senior Secured Tranche B Term Loan Apr 17, 2009 Seagate Technology Announces Pricing of $430 Million of Senior Secured Second-Priority Notes Apr 17, 2009 African Copper Plc: Press Release 16 April 2009 Apr 16, 2009 Bon-Tons March sales down 11% Apr 10, 2009 Alpha Natural Resources Completes Accounts Receivable Securitization Facility Apr 9, 2009 Tips to Find a Good Credit Card Apr 8, 2009 BRE Properties Announces Closing of $620 Million Fannie Mae Credit Facility Apr 8, 2009 Colonial Properties deal falls through Apr 7, 2009 Getting the axe? Some tips from a pro Apr 7, 2009 * MGM Mirage asks Morgan Stanley to evaluate bids Apr 6, 2009 Regency Healthcare secures $25M loan Apr 4, 2009 Jones Apparel Group, Inc. Announces Cash Tender Offer for 4.250% Senior Notes Due 2009 and Consent Solicitation for 4.250% Senior Notes Due 2009, 5.125% Senior Notes Due 2014 and 6.125% Senior Notes Due 2034 Apr 2, 2009 Appleton Reports Fourth Quarter and 2008 Results Apr 1, 2009 Post's business unit cuts staff Mar 23, 2009 S&P's lowers debt rating for MediaNews Mar 19, 2009 S&P Lowers MediaNews Group, Freedom Communications Deeper Into 'Junk' Mar 19, 2009 Warrior Energy N.V. Announces Macquarie Bank Notice of Default Mar 17, 2009 ManTech buys DDK Technology Group Mar 17, 2009 Carmike Cinemas Reports 10 Percent Q4 Theatre Level Cash Flow Increase Mar 17, 2009 Capital Trust Reports Fourth Quarter and Full Year 2008 Results; Implements Debt Restructuring Mar 17, 2009 iStar Financial Completes New $1 Billion Secured Term Loan and Restructuring of Existing Unsecured Revolving Credit Facilities Mar 17, 2009 The great escape Mar 13, 2009 Discovery Labs Reports Fourth Quarter 2008 Financial Results Mar 13, 2009 Canwest and lenders extend discussions relating to senior credit facility Mar 12, 2009 2009 Article IV Mission to Canada: Concluding Statement Mar 12, 2009 Interstate Hotels & Resorts Receives Notice of Suspension of Trading from NYSE Mar 12, 2009 Thermadyne Holdings Corporation Announces 2008 Fourth Quarter and Annual Results Mar 11, 2009 GM teeters on edge of bankruptcy Mar 6, 2009 GM raises specter of Chapter 11 Mar 6, 2009 Polymer Group to repurchase debt Mar 5, 2009 Hexion posts 2008 loss on Huntsman costs Mar 4, 2009 Colonial Properties gets credit facility Mar 3, 2009 Rocky Mountain News Shutdown Means Profit for Denver Post, Singleton Says Feb 27, 2009 Key Energy Announces Fourth Quarter and Full Year 2008 Results Feb 26, 2009 Dollar Thrifty Automotive Group Successfully Completes Lender Discussions Feb 26, 2009 Targa Resources, Inc. Reports Fourth Quarter and Full Year 2008 Financial Results Feb 25, 2009 9 Predictions For Credit Cards In 2009 Feb 25, 2009 DBRS downgrades divisions of CanWest Feb 24, 2009 Germany Wants Liechtenstein's Prince Max to Pay Taxes on Investment Gains Feb 21, 2009 Champion Enterprises Reports Fourth Quarter and Year-End 2008 Results Feb 19, 2009 India Globalization Capital Inc. (IGC), Files 10-Q for the Quarter Ended December 31, 2008 Feb 18, 2009 Landry's Restaurants, Inc. Announces Closing and Consummation of New $510 Million Financing Feb 14, 2009 Shuffle Master, Inc. Announces Resignation of Director Feb 13, 2009 Good credit starts young Feb 12, 2009 DaVita 4th Quarter 2008 Results Feb 11, 2009 After worst annual loss, Ford braces for slow year Feb 8, 2009 General Growth postpones earnings release Feb 7, 2009
Also included in the filings is Hayes Lemmerz Finance LLC - Luxembourg S.C.A., a borrower under the Company's secured credit facility and issuer of its senior notes. As a result of the restructuring, the Company expects to eliminate a significant portion of its existing debt. (PR Newswire)
Agreement Between African Copper and Zambia Copper Investments May 10, 2009
- provision by ZCI of a short-term, secured credit facility (the 'Short-Term Facility') to ACU of US$2 million bearing interest at a rate of 14 per cent. per annum. - the continuation, to the benefit of bondholders, of US$2. (CCNMatthews Press Releases)
The Las Vegas-based casino operator, which owns , said it intends to use the proceeds from the offering to prepay and permanently retire a portion of the revolving loans outstanding under its senior secured credit facility. Chief Executive and Vice Chairman Gordon Kanofsky leads Ameristar Casinos Inc. (Nasdaq: ASCA). (St. Louis Business Journal, MO)
Debt outstanding under a secured credit facility (the ``Facility'') was $245. 0 million, resulting in 201% asset coverage or a debt to equity ratio of 1. (Primezone Releases)
Gold Fields secured credit lines from banks and sold bonds to repay debt, it said. The company received a R1. (Business Report, South Africa)
Previously today, THQ announced it had secured a commitment for a $35 million senior secured credit facility with Bank of America, N.A.. Non-GAAP Financial Measures. (Yahoo! Wire -- Entertainment News)
--(BUSINESS WIRE)--THQ Inc. (NASDAQ: - ) today announced that it has signed a commitment letter for a $35 million senior secured credit facility with Bank of America, NA.. Related Quotes. (Yahoo! Wire -- Entertainment News)
6 million in unsecured credit, compared to $414 ... 7 million in unsecured credit at December 31, 2008 and $410 ... 1 million of unsecured credit at March 31, 2008. (Canada Newswire)
The Company intends to use the net proceeds of this offering for general corporate purposes consisting of the permanent repayment of indebtedness under the Company's senior secured credit facilities, the repurchase of a portion of Crown European Holdings' first priority notes and/or the funding of one or more acquisitions. Pending such application, the Company intends to use such net proceeds to temporarily repay existing indebtedness under its senior secured revolving credit facilities and... (PR Newswire)
Nalco Company intends to use the net proceeds from the offering, along with proceeds from a contemplated new term loan facility, to repay term loans outstanding under its existing senior secured credit facilities. Related Quotes. (Primezone Releases)
As announced separately on April 29, 2009, the Company, Dubai World and the CityCenter lenders entered into a series of agreements, including an amendment to the CityCenter joint venture agreement and the CityCenter senior secured credit facility, resulting in a comprehensive plan to fully fund the completion of CityCenter for its scheduled opening later this year. On April 29, 2009, the Company received $155 million, plus accrued interest, from Ruffin Acquisition, LLC in full payment of the... (Yahoo! Wire -- Entertainment News)
Columbus, Ohio-based Retail Ventures, which in 2000 acquired the chain out of bankruptcy, had said that it would not realize any proceeds from the sale to Buxbaum and that it would continue to guarantee all of Filene's Basement's obligations under its secured credit agreement. (The Associated Press and Reuters contributed to this report. (Crain's Chicago Business)
In March 2009, Appleton and its lenders entered into agreements to waive the events of default caused by non-compliance with its debt covenants and to amend other provisions of the senior secured credit facilities and the senior secured term note payable. These amendments to the senior secured credit facilities and the senior secured term note payable provide Appleton additional covenant flexibility to meet continuing difficult market conditions in 2009 by relaxing the total leverage ratios. (PR Newswire)
One holdout, the mutual fund company OppenheimerFunds, indicated in a statement that it was willing to take its chances in bankruptcy court, banking on its status as a secured credit holder when the court decides how to resolve Chrysler's debts. It runs the risk of getting less than the government offered. (Anchorage Daily News)
Apply online instantly for the secured credit card that's right for you. Featured. (Yahoo News -- Politics)
The increase in non-performing assets was primarily related to three real estate secured credit relationships. The Company's total deposits increased to $400. (Primezone Releases)
8 billion senior secured credit facility. Additionally, Dubai World will dismiss its lawsuit filed against MGM MIRAGE in Delaware Chancery Court on March 22, 2009, and Dubai World and MGM MIRAGE will exchange mutual releases. (Yahoo! Wire -- Entertainment News)
"Under the plan, Dubai World and MGM MIRAGE will fund their remaining equity contributions to CityCenter through letters of credit. In addition, CityCenter's lenders will immediately fund the full $1.8 billion senior secured credit facility," according to a news release from the gaming giant. There was a hint that the company might be making a major announcement when MGM Mirage halted stocking trading earlier in the day. (KLAS-TV.com, NV)
Level 3 Financing, Inc. amended and restated its existing senior secured credit facility to include this new tranche and no changes were made to any of the restrictive covenants contained in the existing senior secured credit facility. About Level 3 Communications. (PR Newswire)
The Notes will be issued by Seagate Technology International ("STI"), an indirect wholly-owned subsidiary of Seagate Technology, and guaranteed by Seagate Technology, Seagate Technology HDD Holdings and all of Seagate Technology's other subsidiaries that guarantee its senior secured credit facility, on a full and unconditional basis and secured by a second-priority lien on the assets that secure the senior secured credit facility ... The sale of the Notes is expected to close on May 1, 2009,... (PR Newswire)
- provision by ZCI of a short-term, secured credit facility (the "Short-Term Facility") to African Copper of US$2 million bearing interest at a rate of 14 per cent. per annum. - the continuation, for the benefit of bondholders, of US$2. (CCNMatthews Press Releases)
On April 8, Bon-Ton executives reduced the company s commitment under its senior secured credit facility to $800 million from the previous $1 billion, said Keith Plowman, executive vice president and chief financial officer. He said the move was part of Bon-Ton s initiative to reduce expenses, and will result in a decrease in interest expense. (Milwaukee Business Journal, WI)
Last month, Alpha also received an upgrade to BB- on both its corporate credit rating and senior secured credit facilities from Standard & Poor's Ratings Services, reflecting the company's strong liquidity position. ABOUT ALPHA NATURAL RESOURCES. (PR Newswire)
If your credit score is below 600, you'll likely need to apply for a secured credit card, and will be required to pay an interest rate ranging from 12-22. Look for cards with low introductory rates prior to making large purchases to ensure getting a jump on paying down the balance before the interest rate grows. (Suite101.com)
SAN FRANCISCO, April 7 /PRNewswire-FirstCall/ -- BRE Properties, Inc. (NYSE: ) today announced the closing of a $620 million secured credit facility originated by Deutsche Bank Berkshire Mortgage for repurchase by Fannie Mae (NYSE: ) ... "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Except for the historical information contained herein, this news release contains forward-looking statements, including statements regarding the terms and timing of draws under... (PR Newswire)
This is in addition to the $350 million secured credit facility it recently closed with the mortgage company. And in March, both Moody s Investors Service and Standard & Poor s downgraded the real estate investment trust s preferred stock and Colonial Realty s unsecured debt. (Birmingham Business Journal, AL)
If you're worried about a layoff and don't already have a secured credit line (your home is used as security in exchange for a preferential interest rate), Mr. Rechtshaffen suggests you go out right now and set one up. Get as much of a secured line of credit as you can, he said. (Globe and Mail -- Business)
The projects banks waived defaults for two weeks on the senior secured credit facility after MGM Mirage made a US$200 million construction payment on March 27 that covered Dubai Worlds half. Los Angeles-based buyout firm Colony Capital LLC has held discussions with MGM Mirage and Dubai World that include a possible investment in CityCenter, a person familiar with the discussions said on Wednesday. (Taipei Times, Taiwan -- Sports)
s Healthcare Financial Services announced Friday it has provided a $25 million senior secured credit facility to Brentwood-based. The company will use the loan to refinance existing debt and for growth capital. (Nashville Business Journal, TN)
The tender offer and the consent solicitation are being conducted in connection with the Issuers' execution of a new senior secured credit facility providing for borrowings of up to an aggregate principal amount of $650,000,000. The purpose of the consent solicitation is to receive the necessary consents from the holders of the Notes for proposed amendments to the Indenture to provide for a carveout to the lien covenant for liens incurred in connection with the new senior secured credit facility... (PR Newswire)
As a consequence of the significant downturn in Appleton's business markets and the resulting loss reported for 2008, Appleton was not in compliance with the leverage ratio covenants at the end of 2008, which constituted events of default under Appleton's senior secured credit facilities and senior secured term note payable. In March 2009, Appleton and its lenders entered into agreements to waive the events of default and amend other provisions of the senior secured credit facilities and the... (PR Newswire)
March 18: Standard & Poor s Ratings Service has lowered its issue-level rating for MediaNews Group Inc.'s secured credit facilities to CCC from CCC+, bringing the rating in line with the Denver newspaper chain s corporate credit rating. March 18: The potential of lifting antitrust barriers to consolidating all the major newspapers in the San Francisco Bay Area sounds like a good idea to MediaNews Group Inc. CEO William Dean Singleton, who already publishes almost all daily papers in the region... (Denver Business Journal, CO)
Standard & Poor s Ratings Service has lowered its issue-level rating for s secured credit facilities to CCC from CCC+, bringing the rating in line with the Denver newspaper chain s corporate credit rating. The revised rating, issued Tuesday, reflect[s] a more significant decline in cash flow than that used in our previous analysis as well as challenging operating conditions in the newspaper sector, S&P said in its credit analysis of MediaNews Group. (Denver Business Journal, CO)
Standard & Poor's Ratings Services on Tuesday cut its issue-level rating on MediaNews' secured credit facilities to "CCC" from "CCC+." The "CCC" rating now matches the corporate credit rating for MediaNews, the Denver-based publisher of the San Jose Mercury News in San Jose, Calif ... The ratings agency lowered Freedom's rating on its secured credit facilities to "CCC" as well, one step lower than the company's corporate credit rating. (MediaWeek.com)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 16, 2009) - Warrior Energy N.V. ("Warrior") (TSX VENTURE: - ) announces that Macquarie Bank Limited ("Macquarie"), which arranged with one of Warrior's wholly-owned subsidiaries, Warrior Energy Holdings Inc. ("Warrior Holdings"), a US$50,000,000 Secured Credit Facility in July 2008 (see news release dated July 24, 2008), has delivered a Default Notice to Warrior Holdings dated March 12, 2009 under the Secured Credit Facility. The default cites... (CCNMatthews Press Releases)
ManTech said it used cash available and borrowings from its senior secured credit facility to finance the purchase. ManTech has strategically continued to pounce on the cyber operations market, scooping up Herndon-based Emerging Technologies Group, a provider of computer network operations and computer forensics, last year. (Washington Business Journal, DC)
Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include, but are not limited to: general economic conditions in our regional and national markets; our ability to comply with covenants contained in our senior secured credit agreement; our ability to operate at expected levels of cash flow; financial market conditions including, but not limited to, changes in interest rates and the availability and cost of capital; our... (Yahoo! Wire -- Entertainment News)
The secured credit facilities with JP Morgan, Morgan Stanley and Citigroup (aggregate outstanding principal balance of $579 ... The secured credit facility with Goldman Sachs (outstanding principal balance of $88 ... Previously, on February 25, 2009, the secured credit facility with UBS (outstanding principal balance of $9. (PR Newswire)
New $1 Billion Delayed Draw Secured Credit Agreement. The Company announced that it has entered into a $1. (PR Newswire)
Until recently, Western banks recycled those savings into the hands of US and Western consumers by letting them borrow on their homes and through unsecured or weakly secured credit card and auto loans. Foreign funds were also recycled into the hands of hedge funds and private equity firms, which frequently made foolish investments with cheap capital - consider Cerberus's purchase of Chrysler. (Asia Times Online)
0 million outstanding under its secured credit facility with GE Business Financial Services Inc. and $0. 5 million outstanding under the Machinery and Equipment Loan with the Commonwealth of Pennsylvania Department of Community and Economic Development. (Primezone Releases)
CMI has reduced the principal outstanding under the senior secured credit facility to approximately $42 million in letters of credit, has cash-on-hand of approximately $30 million, and has access to a further $20 million of liquidity through its senior credit facility. In addition, cash of approximately $20 million has been placed on deposit by CMI as collateral with its senior lenders. (Yahoo! Wire -- Entertainment News)
introducing the Canadian Secured Credit Facility to bolster vehicle and equipment financing for businesses and consumers. increasing the resources of Export Development Canada and the Business Development Bank of Canada, to support economic activity. (IMF News)
The company's senior secured credit facility agreement requires that the company be listed on the NYSE. KPMG LLP, the company's external auditor, has notified the Audit Committee and management that since Interstate's potential delisting from the NYSE creates a credit facility covenant issue, which, if not resolved, could result in acceleration of the credit facility debt, its auditor report on the consolidated financial statements for the year ended December 31, 2008 will include an explanatory... (PR Newswire)
The Company had combined cash and availability under its senior secured credit facility of $48 million at December 31, 2008. As of December 31, 2008, long-term debt obligations, net of cash, were $222. (Primezone Releases)
5 billion term loan and a $125 million secured credit facility. . (Atlanta Journal-Constitution -- Business)
5 billion term loan and a $125 million secured credit facility. "Consequently, we are not in default of our covenants," the report said. (AZCentral -- Business)
The Charlotte-based company s senior secured credit facility features a $45 million revolving credit facility and a first-lien term loan with an outstanding balance of $367. 2 million as of Sept. 27. (Charlotte Business Journal, NC)
Hexion also said that while it was current on its debt covenants at the end of the year, a continued downturn could lead it to default on a senior secured credit facility. That could be remedied by proceeds from equity purchases or capital from parent Hexion LLC, but the company warned that a default could have a material effect on its financial condition. (Columbus Business First, OH)
said it recently closed on a $350 million secured credit facility to repay part of a $675 million unsecured line of credit. The Birmingham-based real estate investment trust (NYSE: CLP) said the facility was originated by PNC ACRS LLC for repurchase by Fannie Mae and will address debt maturities through 2010 and beyond, said a news release. (Birmingham Business Journal, AL)
Moodys said at the time in December MediaNews faced a heightened risk of near-term default under a recently amended secured credit agreement, as well as potential difficulty refinancing a revolving credit line in December. Having a competitor exit one of its markets might provide some short-term relief in Denver, but theyre not out of the woods yet, said , a credit analyst for Fitch Ratings. (Bloomberg -- US)
As of February 23, 2009, the Company had approximately $150 million in cash on hand and approximately $139 million available under its Senior Secured Credit Facility. The Company expects to remain in compliance with the financial covenants under its debt agreements. (PR Newswire)
Feb. 25 /PRNewswire-FirstCall/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: ) today announced amendments of its senior secured credit facility and fleet financing agreements with Chrysler Financial and another bank group ... In connection with the amendment of the senior secured credit facility, the Company prepaid $20 million of its term loan and permanently reduced the total revolving credit facility commitments to $231. (PR Newswire)
Targa's senior secured credit facility consists of: (i) a $1. 25 billion term loan maturing in 2012 of which $522. (Primezone Releases)
Amid a tightening of credit, "This might actually be good for the prepaid card industry, or secured credit cards may pick up the slack," says Judith Rinearson, a partner with the international law firm of Bryan Cave in New York. Those card products already appeal to consumers with limited or poor credit histories. (KFOXTV.com, TX)
CanWest Media Inc. and CanWest LP were given lower ratings pending the outcome of CanWest's negotiations with banks over its secured credit facility, the rating agency said Monday. DBRS believes that CanWest Media's financial flexibility is extremely limited as it is not currently in compliance with its bank covenants regarding its $300-million credit facility, it said in a release. (Globe and Mail -- Business)
The princes lawyers say Max drew no payments from the account while he lived in Germany, but rather secured credit that wasnt taxable -- and that the assets belonged to the family rather than the prince, LGT said. The German authorities say the prince owes taxes on the assets of the entire foundation because most of the payments from it went to him, according to the LGT statement. (Bloomberg -- Germany)
"Difficult global economic conditions had a negative impact on each segment of Champion's business in the fourth quarter," stated William Griffiths, chairman, president and chief executive officer of Champion Enterprises, Inc. "In this challenging environment, we remain focused on reducing costs and preserving liquidity. Since the beginning of 2008, we have idled or closed four plants in the U.S., reduced companywide staffing by 42 percent and curtailed other spending. Together, these actions... (PR Newswire)
Ram Mukunda, chief executive officer of IGC said: "As we said in the last quarter, due to illiquidity we began to adjust our business model and stream line our operations. Specifically, we have taken the following steps: 1) we have curtailed the number of contracts we are working, 2) we have subcontracted, or off loaded some of our contracts to other contractors, and 3) we have taken steps to shed costs, including laying off personnel. "In order to better position ourselves to obtain and... (PR Newswire)
6 million amended and restated senior secured credit facility ("Credit Facility") consisting of a $50 million revolving credit line and a $165. 6 million term loan. (PR Newswire)
Risk factors that could cause actual results to differ materially from expectations include, but are not limited to, the following: we may be unable to repurchase our contingent convertible senior notes; our intellectual property or products may be infringed, misappropriated, invalid, or unenforceable, or subject to claims of infringement, invalidity or unenforceability, or insufficient to cover competitors' products; the gaming industry is highly regulated and we must adhere to various... (Yahoo! Wire -- Entertainment News)
Stahl said one way for young people to establish credit is to obtain a secured credit card and once credit is established the person can apply for an unsecured card. According to Erin Farmer, Gaylax, Va. (The University Echo, TN)
37% Effective weighted average interest rate on the Senior Secured Credit Facilities at end of the quarter 3 ... Under the Company's current Senior Secured Credit Facilities (Credit Agreement), the leverage ratio is defined as all funded debt plus the face amount of all letters of credit issued, minus cash and cash equivalents, divided by "Consolidated EBITDA". (PR Newswire)
1 billion of its secured credit line. The money is to arrive Tuesday, but Ford executives said they don't plan to use it for operating expenses. (OregonLive, OR -- Business)
6 billion senior secured credit agreement and revolving credit facility were extended until March 15. The deadline on two mortgages totaling $900 million was extended last month to Feb. 12. (Crain's Chicago Business)
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