Interviews
News Flash
Xerium amends credit agreement
31 May '08
2 min read
Key provisions of the Amended and Restated Credit Facility include:
• Libor based grid rate pricing at an initial rate of Libor + 5.50% with three identified step downs contingent upon future improvements in credit ratings: Libor + 4.25%, Libor + 3.75%, and Libor + 2.75%
• Covenants governing the use of proceeds from asset and equity sales
• Prohibition against dividend payments for the term of the agreement
• Limits on capital expenditures, restructuring, acquisitions and certain other investments
• Freezing foreign exchange rates for the purpose of calculating debt for certain covenant purposes
• Increased debt pay down requirements
• Increased performance reporting requirements
• Libor based grid rate pricing at an initial rate of Libor + 5.50% with three identified step downs contingent upon future improvements in credit ratings: Libor + 4.25%, Libor + 3.75%, and Libor + 2.75%
• Covenants governing the use of proceeds from asset and equity sales
• Prohibition against dividend payments for the term of the agreement
• Limits on capital expenditures, restructuring, acquisitions and certain other investments
• Freezing foreign exchange rates for the purpose of calculating debt for certain covenant purposes
• Increased debt pay down requirements
• Increased performance reporting requirements
Xerium Technologies Inc
Popular News
Leave your Comments
Pratik Gadia
The Yarn Bazaar - Filosha Infotech Private Limited
Kimberly Morgan and Rik Veltman
K3 Business Technology Group PLC
Christian Guinet
French Textile Equipment Manufacturers’ Association (UCMTF)
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
