Share this article

When completed, the agreements
will extend the maturities through August 12, 2002 of the $500 million Trade
Credit and $600 million Bridge Loan facilities, which presently have contractual
maturities in July and October 2000, respectively. Warnaco said that upon satisfaction
of the closing conditions to and completion of the planned transactions, the
Company will have no material debt maturing prior to August 2002. In the interim
period, prior to closing, Warnaco will utilize bilateral trade facilities, including
a supplemental trade credit facility with The Bank of Nova Scotia, for its normal
trade and letter of credit requirements. The amended financing facilities will
be secured by assets owned by Warnaco and its subsidiaries. Warnaco also said
that there are no requirements for modification of the Company’s remaining private
or public debt.

Subscribe to Just Style

Join over 70,000 apparel industry professionals by unlocking full access for just £1 (plus VAT if applicable)

Already a Member? Login here

Just Style membership gives you:

  • Unlimited access to Just Style content including in-depth analysis, exclusive blogs, industry executive interviews and management briefings
  • Unbeatable market coverage from apparel sourcing and supply chain issues, to emerging markets and manufacturing
  • Unrivalled apparel industry comment from journalists including Leonie Barrie, Michelle Russell, Hannah Abdulla and Beth Wright.
Want multi-user access? Explore our multi-user & corporate memberships

70% of the apparel and textile companies in the Forbes Global 2000 use Just Style

Find out more

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData