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Article: WestPoint Stevens Inc. Improves Financial Liquidity Through $165 Million Second-Lien Senior Credit Facility.

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PR Newswire
Article date:
June 29, 2001
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WEST POINT, Ga., June 29 /PRNewswire/ --

WestPoint Stevens Inc. (NYSE: WXS) (www.westpointstevens.com ) announced today the closing of a new $165 million second-lien senior credit facility. Proceeds will be used to pay down borrowings under its existing bank credit facility and will provide additional liquidity for working capital and general corporate purposes. In conjunction with this refinancing, the Company has also amended its bank credit facility. Under terms of the amended agreement, certain financial covenants were modified effective June 29, 2001, and reductions in the commitments were modified to the Company's benefit. Total debt outstanding on a pro ...

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