Monaco Coach Corporation Announces Funding and Closing of New Debt Financing
07 Novembre 2008 - 9:46PM
Marketwired
Monaco Coach Corporation (NYSE: MNC), one of the nation's leading
manufacturers of recreational vehicles, announced today that the
new credit facilities it had previously announced it was
negotiating have now closed and been funded. The first of these
facilities is a three-year $80 million revolving working capital
loan and security agreement with several financial institutions and
Bank of America, N.A., as agent for the lenders. This facility was
reduced from the previously announced level of $90 million to $80
million. The second facility is a secured financing agreement with
Ableco Finance, LLC for a $39.3 million 3.5-year secured term loan.
The term loan proceeds and an initial draw on the new revolving
loan of $37.4 million were used to pay off the existing revolving
line of credit and term loan, as well as for general corporate
purposes.
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.
CONTACT: Craig Wanichek Director of Investor Relations Monaco
Coach Corporation (541) 681-8029 Email Contact
Monaco Coach (NYSE:MNC)
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