Monaco Coach Corporation Announces Delay in Funding Debt Financing
November 06 2008 - 6:00AM
Marketwired
Monaco Coach Corporation (NYSE: MNC), one of the nation's leading
manufacturers of recreational vehicles, today announced that
funding under the financing arrangements announced yesterday has
been delayed.
The loans did not fund November 5, 2008 as anticipated. The
Company is diligently working with the lending group to resolve the
issue.
About Monaco Coach Corporation
Monaco Coach Corporation, a leading national manufacturer of
motorized and towable recreational vehicles, is ranked as the
number one producer of diesel-powered motorhomes. Dedicated to
quality and service, Monaco Coach is a leader in innovative RVs
designed to meet the needs of a broad range of customers with
varied interests and offers products that appeal to RVers across
generations.
Headquartered in Coburg, Oregon, with manufacturing facilities
in Indiana, the Company offers a variety of RVs, from entry-level
priced towables to custom-made luxury models under the Monaco,
Holiday Rambler, Safari, Beaver, McKenzie, and RVision brand names.
The Company maintains RV service centers in Harrisburg, Oregon and
Wildwood, Florida and operates motorhome-only resorts in
California, Florida, Nevada and Michigan.
Monaco Coach Corporation trades on the New York Stock Exchange
under the symbol "MNC," and the Company is included in the S&P
Small-Cap 600 stock index. For additional information about Monaco
Coach Corporation, please visit www.monaco-online.com or
www.trail-lite.com.
The statements above regarding the ability to resolve the
funding issue contain risks and uncertainties which include (i) our
ability to obtain a further waiver from our existing lenders and
(ii) our ability to maintain sufficient liquidity to maintain
operations until alternate financing arrangements are put in place.
Please refer to the Company's SEC reports for additional risks and
uncertainties, including but not limited to the most recent Form
10-Q, the annual report on Form 10-K for 2007, and the 2007 Annual
Report to Shareholders for additional factors. These filings can be
accessed over the Internet at http://www.sec.gov or
http://www.monaco-online.com.
CONTACT: Craig Wanichek Director of Investor Relations Monaco
Coach Corporation (541) 681-8029 Email Contact
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