DURA Automotive Announces Completion of $75 Million Upsize to Its Existing Senior Secured Second Lien Term Loan
March 30 2006 - 12:42PM
Business Wire
DURA Automotive Systems, Inc. (Nasdaq:DRRA), today announced it
completed a $75 million upsize to its senior secured second lien
term loan due May 2011. In connection with the deal, DURA
successfully amended both its existing $150 million senior secured
second lien term loan and its $175 million asset-based revolving
credit facility. Due to strong market demand, pricing on the new
$75 million upsize will remain the same as the existing $150
million. The proceeds from this new loan further enhances DURA's
liquidity position and will be used for general corporate purposes.
About DURA Automotive Systems, Inc. DURA Automotive Systems, Inc.,
is a leading independent designer and manufacturer of driver
control systems, seating control systems, glass systems, engineered
assemblies, structural door modules and exterior trim systems for
the global automotive industry. The company is also a leading
supplier of similar products to the recreation vehicle (RV) and
specialty vehicle industries. DURA sells its automotive products to
every North American, Japanese and European original equipment
manufacturer (OEM) and many leading Tier 1 automotive suppliers.
DURA is headquartered in Rochester Hills, Mich. Information about
DURA and its products is available on the Internet at
www.duraauto.com.
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