logo
Share SHARE
FONT-SIZE Plus   Neg

American Apparel Prices Offering Of $206 Mln Senior Secured Notes - Quick Facts

American Apparel, Inc. (APP) announced the pricing of $206 million of its 13.0% Senior Secured Notes due 2020, which will be issued at 97% of par. The company expects the closing of the offering to take place on or about April 4, 2013.

The Los Angeles, California-based company intends to use this offering net proceeds, together with borrowings under a new asset-backed revolving credit facility, to repay in full and terminate its credit facilities with Lion Capital, LLC and Crystal Financial LLC and, to the extent any proceeds are remaining, for general corporate purposes.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Sprint Corp., the third largest U.S. wireless carrier, on Tuesday reported a loss for the fourth quarter that widened from last year on one-time charges and lower revenues. The latest quarter's results include charges related to severance and lease exit costs, including the shutdown of legacy WiMAX service that will free up valuable spectrum and immediately lower network costs. Shares of Infineon Technologies AG were losing around 4 percent in German trading after the manufacturer of semiconductors and system solutions reduced its revenue growth forecast for fiscal 2016. This was despite a surge in second-quarter profit with strong revenues. For the third quarter, the company projects revenue growth sequentially. Halliburton Company (HAL) reported a loss from continuing operations of $2.4 billion, or $2.81 per share, in the first quarter of 2016, compared to a loss of $639 million or $0.75 per share, previous year. Halliburton recorded company-wide charges related primarily to asset impairments and severance...
comments powered by Disqus
RELATED NEWS
Trade APP now with 
Follow RTT