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Post# of 54376
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timhyma

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timhyma

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Re: shmolton post# 21726

Monday, 07/10/2006 9:05:24 PM

Monday, July 10, 2006 9:05:24 PM

Post# of 54376
What's your thoughts on the new financing? Can they afford it?

4:06PM Pemstar obtains more favorable banking terms from lenders (PMTR) 3.31 -0.16 : Co announces that it has secured more favorable terms for its revolving line of credit with its domestic lending institutions. Key highlights of changes from the existing arrangements included in the Amended and Restated Loan and Security Agreement dated July 3, 2006, include: Increases the Revolving Loan Commitment from $40 mln to $45 mln and decreases the Tranche B Loan Commitment from $10.5 mln to $9 mln. Reduces the interest rate on the Revolving Loans to prime rate plus a range from 0% to 0.75%, depending on co liquidity; or to LIBOR plus a range from 2.00% to 2.75%, depending on Company liquidity. Reduces the interest rate on the Tranche B Loans to prime rate plus 4.75% from prime rate plus 6.00%. Increases the monthly payments on the Tranche B Loans to $400,000 per month from $250,000 per month.


Small Cap plays: #board-865
Big Board plays: #board-711

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