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 Bondholders to Help Company with Debts
Jul 15, 2005
 Printable format
 Email this Article
 Search

Bondholders of Salton Inc., maker of the George Foreman indoor grill, agreed to a debt reorganization that will allow the Lake Forest, IL, U.S.-based company to pay its debts.

Salton got holders of U.S. $77.8 million, or 62 percent, of its bonds maturing this year to exchange their holdings for debt maturing in 2008, company spokesman Michael Wachs said. Salton also made its June interest payment on the notes within the 30-day grace period, according to Mr. Wachs. It had missed the payment when it was due on June 15.

The small appliance maker has reported losses in four of the last five quarters and has more than $400 million in debt. It had $18.2 million in cash in April and about $7.8 million from a bank credit line, according to a regulatory filing.

The company needed to get holders of at least $75 million of the notes to agree to the reorganization plan. The holders of approximately $50.9 million of notes maturing in 2008 have also entered into support agreements, Mr. Wachs said.

A group of Salton bondholders represented by Chanin Capital Partners in Los Angeles, CA, U.S. had opposed the plan. (Bloomberg News)

Back to Daily News

 

Daily News

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

Dec 19, 2014: Whirlpool Corp. provides guidance for 2015

Dec 19, 2014: Panasonic to showcase built-in appliances at LivingKitchen 2015

Dec 19, 2014: New residential construction in November 2014

Dec 19, 2014: 2014 U.S. steel production up 0.7% from 2013

Dec 19, 2014: Strong North American PCB Order Growth in October

More Daily News>>

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

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

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
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