Quaker obtains preliminary refinancing agreement
By Staff -- Home Textiles Today, 10/18/2006 11:47:00 AM
Fall River, Mass. – Woven upholstery and jacquard supplier Quaker Fabric has reached preliminary agreement on terms of a refinancing transaction for approximately $50.0 million of senior secured financing, the company said.
The current senior secured credit facility with Bank of America will be amended to provide Quaker with a $25 million revolving credit facility, and fulfill current term loan obligations. The agreement also provides two senior secured term loans of up to $12.5 million each from GB Merchant Partners, an affiliate of liquidator firm Gordon Brothers.
Both the Bank of America and GB Merchant Partners transactions are planned to run through May 17, 2010.
Quaker president and ceo Larry Liebenow said, “"This represents an important milestone in our efforts to put new financing arrangements in place consistent with Quaker's strategic objectives and current operating and working capital needs.”
We would love your feedback!
Most Recent Resources
- Getting the most out of offline leads
- Free Shipping and the Importance of Onsite Promotion
- Should Branded Manufacturers Participate in Flash Sales?
- Rugs 101 - Special Edition
- How Big Is Your Label
- Choosing a Web Site Developer
- Convergence: Tie Your Online & Offline Experience...
- Social Networks to Social Shopping
- Why Brands and Their Retailers are Facebook’s Biggest...
- Web Based Intelligence Gathering
- The Future of Tablets
- Shopatron: Bicycles & eCommerce
- A Guide to Holiday eCommerce Success
- Mattress Buying 101 - Connecting with Consumers
- Designing Your Brand’s Website for eCommerce
- Global Sourcing in 2010: Doing More With Less
- Comparing Four Options for Turning Web Site Traffic into...
- Are You Prepared for the 2009 Holiday Season? A Branded...
- Design, Develop, Deliver: The Three D's to Digitally...