Ceramic Industry News

Anchor Glass Container Enters New Revolving Credit Facility

February 22, 2005
/ Print / Reprints /
ShareMore
/ Text Size+

Anchor Glass Container Corp. has entered into a $20 million revolving credit facility with Madeleine L.L.C., an affiliate of its largest stockholders, funds and accounts managed by Cerberus Capital Management L.P and its affiliates. As availability under the new facility is not subject to a borrowing base, the new facility will provide the company with liquidity in excess of that provided by the borrowing base under its $115 million primary lending facility. The company anticipates that it will have approximately $22 million of availability under its two revolving credit facilities. The new revolving credit facility will mature on August 30, 2007, contemporaneously with the maturity of the company's existing revolving credit facility, and will bear interest on drawn portions thereof at LIBOR plus 8%. Interest on the new facility will be payable in kind if availability under the company's existing revolving credit facility is less than an agreed upon threshold. The new revolving credit facility will be secured by a second lien on the company's inventory, receivables and general intangibles.

For more information, call (813) 882-7811.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI September 2014 cover

2014 September

You won't want to miss the CI Top 10, traditionally our most popular article of the year!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px