Quaker obtains preliminary refinancing agreement
October 18, 2006,
Fall River, Mass. – Woven upholstery and jacquard supplier Quaker Fabric has reached preliminary agreement on terms of a refinancing transaction for approximately $50.0 million of senior secured financing, the company said.
Both the Bank of America and GB Merchant Partners transactions are planned to run through May 17, 2010.
Quaker president and ceo Larry Liebenow said, “"This represents an important milestone in our efforts to put new financing arrangements in place consistent with Quaker's strategic objectives and current operating and working capital needs.”
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