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Article: Borders Group and Pershing Square Agree to One-Year Extension of Loan Agreement.
- Article from:
- PR Newswire
- Article date:
- March 30, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ANN ARBOR, Mich., March 30 /PRNewswire-FirstCall/ -- Borders Group, Inc. and Pershing Square Capital Management, L.P. today announced a one-year extension of the $42.5 million senior secured term loan from April 15, 2009 until April 1, 2010. The loan will be extended on its current terms, including an interest rate of 9.8%, which is substantially below market for comparable financing. At the same time, Borders Group is resetting the strike price on Pershing Square's 14.7 million warrants to $0.65 per share, and the company will allow its option to "put" its U.K. based Paperchase gifts and stationery business to Pershing Square to expire.
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Article: BORDERS GROUP REPORTS MULTIPLE TRANSACTIONS BY 10 ...
US Fed News Service, Including US State News;
December 10, 2008 ;
336 words
...WASHINGTON, Dec. 10 -- Borders Group Inc. (BGP), Ann Arbor, Mich., has filed a Form 4 with ... change in the beneficial interest held by 10 percent owner Pershing Square Capital Management LP, New York. On Dec. 3 the action ...
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