Bombay Announces New $10 Million Term Loan
2007年5月26日 - 5:19AM
PRニュース・ワイアー (英語)
Updates Status Of Strategic Alternative FORT WORTH, Texas, May 25
/PRNewswire-FirstCall/ -- The Bombay Company, Inc. (NYSE:BBA)
announced that it has entered into an agreement for a new $10
million, secured term loan facility with a fund managed by GB
Merchant Partners, LLC. The facility is coterminous with the
Company's existing $125 million secured revolving credit facility
with GE Commercial Finance, Corporate Lending and was arranged by
GE Capital Markets, Inc. as Sole Lead Arranger. The new facility
will provide incremental liquidity to fund working capital
requirements and other corporate needs. David B. Stewart, Chief
Executive Officer, indicated, "We are very pleased to have the new
term loan agreement with GB Merchant Partners LLC in place. We
expect that the facility will provide greater liquidity as we
continue to execute our transformation plan." The Company also
noted that William Blair & Company, engaged by the Board of
Directors, to investigate strategic alternatives, has received non
binding offers to purchase the Company at prices that are premiums
to yesterday's closing price. It should be emphasized that these
offers are non binding and that they are subject to material
conditions including substantial due diligence. While the Board is
encouraged by these offers, there is no assurance that these offers
will ultimately lead to a transaction. The Board does not intend to
report on the progress until the appropriate time in the future.
About Bombay The Bombay Company, Inc. designs, sources and markets
a unique line of home accessories, wall decor and furniture through
over 400 retail outlets, specialty catalogs and the Internet in the
U.S. and internationally. Any statements in this press release that
may be considered forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ
materially. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Those risks are described in the Company's public
announcements, reports to stockholders and SEC filings, including
but not limited to Reports on Forms 10-K, 8-K and 10-Q, copies of
which are available from the SEC or may be obtained upon request
from the Company. The Company undertakes no obligation to revise
the forward- looking statements contained therein to reflect events
or circumstances after the date hereof as a result of new
information, future events or otherwise.
http://www.newscom.com/cgi-bin/prnh/20051026/BOMBAYLOGO
http://photoarchive.ap.org/ DATASOURCE: The Bombay Company, Inc.
CONTACT: Elaine D. Crowley, Sr. Vice President, Chief Financial
Officer of The Bombay Company, Inc., +1-817-347-8200 Web site:
http://www.bombaycompany.com/
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Bombay (NYSE:BBA)
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