Business and Finance Week
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Hampshire Group Announces $125 Million Credit Facility
February 25th, 2008
Hampshire Group, Limited (Pink Sheets: HAMP.PK) announced that it has obtained a five-year, $125 million senior secured revolving credit facility from a lending group led by HSBC Bank USA, National Association. The facility replaces a $100 million credit facility that would have expired on February 15. The size of the facility was increased to provide capacity for the Company to execute its long-term growth strategy.
The facility is secured by certain Company assets and is subject to customary covenants, including a leverage covenant and covenants requiring the Company to maintain certain levels of tangible net worth, fixed charge coverage and liquidity. Borrowings from...
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Source: Business and Finance Week (2008-02-25)