USA: Goody's Secures $130m Financing Facility
Goody's Family Clothing reported that it has entered into a five-year $130m loan and security agreement with The CIT Group/Business Credit, Inc acting as agent for a syndicate of lenders. The new loan and security agreement replaces the company's $115m credit facility that was to expire on June 30, 2001. The new facility provides for cash borrowings for general corporate purposes, including a $95m sub-facility for the issuance of letters of credit. The new facility is secured by the company's cash, accounts receivables and inventories. Borrowings under the new facility are limited by collateral formulas based principally upon the company's eligible inventories. Borrowings would bear interest at either LIBOR plus an applicable margin or the prime rate.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- $1.7bn package to boost Pakistan clothing exports
- Outlook 2017 – What next for apparel sourcing?
- Mexico riots hit apparel retailers and shipments
- Is China about to burst its apparel trade bubble?
- M&S clothing growth – What the analysts say
- MAS Holdings planning second industrial park
- Cambodia clothing exports at risk from Brexit
- JC Penney latest retailer to shutter stores?
- Aéropostale to reopen 500 stores across the US
- Target leads funding for mobile quality inspection
- Global apparel markets: product developments and innovations, October 2016
- Anti-odour clothing: fresh fashion for an active lifestyle
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022