Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Salton Will Not Make Interest Payment
Jun 15, 2005
 Printable format
 Email this Article
 Search

Small appliance maker Salton, Inc. announced that the company will not make the interest payment of approximately U.S $6.7 million due on June 15, 2005 under its outstanding 10.75 percent senior subordinated notes.

The notes provide a 30-day grace period to pay the interest, but Salton said that it believes it is prudent to use the time while the company pursues options to refinance the 10.75 percent senior subordinated notes due Dec. 15, 2005.

Salton said that there is no assurance that it will make the interest payment during the grace period.

In addition, the company said that it will pursue strategic options to raise funds required to satisfy the $125 million of outstanding 10.75 percent senior subordinated notes.

Salton said the options may include incurring additional debt, issuing debt or equity securities, sales of assets or businesses, reducing expenditures for new product development and/or cutting other costs, repurchasing outstanding debt securities, exchange offers and/or consent solicitations of outstanding securities.

Back to Daily News

 

Daily News

...........................................................

Sep 19, 2014: Builder confidence at highest level since Nov. 2005

Sep 19, 2014: Builders Show, Kitchen/Bath Show, and 3 other events converge for 2015 Design & Construction Week

Sep 19, 2014: GE Appliances supporting Susan G. Komen

Sep 18, 2014: AHRI at White House unveils $5 billion refrigerant R&D plan

Sep 18, 2014: Solar microinverter market could break $1 billion by 2018

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows