USA: Pact To Waive Kasper's Defaults
Kasper ASL Ltd signed an amended agreement with the lenders of its revolving-credit facility that will waive certain financial covenants and all existing defaults. In September, the women's-apparel company said it wouldn't make its semi-annual interest payment of $7.2m to holders of its 13 per cent senior notes. The company had also said it wasn't in compliance with financial covenants under its credit facility with a group led by Chase Manhattan Bank.
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