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Article: American Biltrite Completes Refinancing.
- Article from:
- Investment Weekly News
- Article date:
- July 25, 2009
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American Biltrite Inc. (NYSE Amex: ABL) reported that it completed the refinancing of its credit facility on June 30, 2009. The new credit agreement with Wachovia Bank, NA provides up to $38 million in revolving and term debt. In addition, American Biltrite entered into financing arrangements with FGI Finance that provide up to $4 million in revolving credit for the company's operations in Belgium and Singapore. These new facilities replace an existing credit agreement that provided up to $29 million in borrowings.
Roger S. Marcus, Chairman of the Board, commented "We are extremely pleased to have completed our refinancing despite a challenging economic and ...