New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Maytag has signed a commitment letter for a $500 million five-year, senior secured revolving credit facility, which will be secured by accounts receivable and inventory for certain company subsidiaries.
The major appliance maker also has obtained an amendment to its current $300 million revolving credit facility, due March 2007, which eases covenant requirements. Therefore, the current $300 million credit facility would be replaced by the $500 million credit facility, providing Maytag with substantially more covenant flexibility and funding security to meet liquidity and long-term financing requirements.
Currently, the company is considering two acquisition offers, including a proposal from Chinese majap maker Haier, which, along with its investment partners, has made a $1.28 billion bid for Maytag.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.