Home / Knowledge / News / Textiles / Ethan Allen concludes new revolving credit facility

Ethan Allen concludes new revolving credit facility

30
May '09
Ethan Allen Interiors Inc announced it has entered into a new three year senior secured revolving credit facility. The new facility is initially set at $40 million with an accordion feature permitting increase to up to $60 million.

The Company currently has no plans to use the facility other than for its outstanding letters of credit (currently $12.5 million). The credit facility is provided by a syndicate led by JP Morgan Chase Bank, N.A. The facility is secured by the Company's domestic assets other than real estate and related fixed assets.

Farooq Kathwari, Chairman and CEO commented, "We are pleased that we have been able to maintain a strong cash position. While we expect that to continue, it is prudent for the Company to have a modest credit facility. We continue to have good liquidity from our business operations and have significant flexibility under this new facility, including no encumbrances on the more than $300 million of value in the real estate owned by the Company.”

Ethan Allen Interiors Inc


Must ReadView All

Rajive Ranjan (left), Managing Director, Techno Design GmbH and Technocian Fashions, with Oliver Hein, COO, s.Oliver Group. Pic: PDS Multinational Fashions Limited

Apparel/Garments | On 2nd Dec 2021

PDSMFL (BSE:538730) to source for s.Oliver from India, Sri Lanka

India-based PDS Multinational Fashions Limited (listed on Bombay...

Pic: Sergejsbelovs | Dreamstime.com

Apparel/Garments | On 4th Dec 2021

USTR, AAFA to promote greater near-shoring of apparel production

The office of the United States Trade Representative (USTR) has...

Pic: Yilmaz Savas Kandag | Dreamstime.com

Textiles | On 4th Dec 2021

Top priority is to eliminate CAD & foreign debt: Turkey’s new FM

Turkey wants to boost investments, production and exports, and its...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Bani Pasricha,  Label - Bani Pasricha

Bani Pasricha
Label - Bani Pasricha

An Indian fashion-designer and a recipient of one of the most prestigious...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search