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Article: Lazy Days Reaches Agreement in Principle with Bondholders and Lenders on Terms of Financial Restructuring.
- Article from:
- Investment Weekly News
- Article date:
- September 26, 2009
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Lazy Days' R.V. Center, Inc. (the "Company") announced it has entered into an agreement in principle with its floor plan lenders and an ad hoc committee representing approximately 82% of its bondholders by value on a plan to restructure its debt. If implemented as proposed, the restructuring plan will eliminate all of the Company's $137 million of debt (other than its ongoing floor plan credit facility), reducing its annual cash interest costs by approximately $16.2 million through the elimination of bond interest payments. The Company's ongoing cash interest expense will be approximately $3 million incurred on its vehicle financing line, representing a reduction of 84% ...
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... ... SEATTLE, June 9 /PRNewswire/ -- The lazy days of summer? They don't exist anymore ... Rochester, NY-based global research company that blends premier strategic consulting ... network of affiliate market research companies. EOE M/F/D/V. CONTACT: Erika ...
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