Columbia Sportswear Company Announces Private Debt Placement.PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 12, 1998--Columbia Sportswear Company(R) (Nasdaq:COLM COLM Column COLM Colorado National Monument (US National Park Service) COLM Committee On Lay Ministry ) announced that it closed yesterday on a 10-year, $25 million long-term senior debt offering at an average quarterly coupon rate Coupon rate In bonds, notes, or other fixed income securities, the stated percentage rate of interest, usually paid twice a year. of 6.68%. Proceeds of the offering will be used to finance the expansion of the Company's Portland, Oregon-based distribution center. The distribution facility expansion is designed to provide additional capacity to meet the Company's five-year domestic growth plans. Prudential Prudential is the name of two different companies and buildings named after them: Companies:
"We believe capital market conditions present an attractive opportunity for Columbia Sportswear Columbia Sportswear Company NASDAQ: COLM is a United States company that manufactures and distributes outerwear and sportswear. Founded in 1938 by the late Paul Lamfrom, father of present chairperson Gert Boyle, the company is headquartered in Portland, Oregon. to secure long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. financing at competitive rates," said Pat Anderson, Chief Financial Officer. "This borrowing will enable us to continue to maintain both financial flexibility and a very strong balance sheet, as well as add value for our shareholders," Anderson emphasized. Columbia Sportswear Company(R) is a global leader in the design, manufacture, marketing and distribution of active outdoor apparel. As one of the largest outerwear manufacturers in the world and the leading seller of skiwear ski·wear n. Clothing appropriate for various types of skiing. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the Company has developed an international reputation across an expanding product line for quality, performance, functionality and value. To learn more about Columbia Sportswear, please visit the Company website at www.columbia.com. This press release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. related to the Company's distribution center expansion. Statements regarding this expansion project, including the financing of the project and additional capacity resulting from the expansion, are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company's Initial Public Offering prospectus dated March 26, 1998. These risk factors include, but are not limited to, the Company's reliance on product acceptance, effects of weather, dependence on independent manufacturers, seasonality and fluctuations in operating results, effectiveness of the Company's sales and marketing efforts, and intense competition in the industry, which the Company believes will increase. Although forward-looking statements help provide complete information about the Company, investors should keep in mind that forward-looking statements are inherently less reliable than historical information.
CONTACT: Columbia Sportswear Company
Pat Anderson, 503/286-3676
or
Sean M. Beers, 503/286-3676
sean_beers@ccmail.columbia.com
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