Dayton Superior Announces Plans to Refinance Indebtedness.DAYTON, Ohio -- Dayton Superior Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DSUP DSUP Defense System Upgrade Program DSUP Detective Superintendent ) today announced it intends to refinance the Company's existing Senior Notes and Senior Subordinated Notes. The proceeds from a new syndicated senior secured credit facility, along with borrowings under the Company's existing revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility, will be used to fully refinance both the Company's existing outstanding 10.75% Senior Second Secured Notes due 2008 and the 13.00% Senior Subordinated Notes due 2009. Concurrent with the new senior credit facility, the Company will amend and restate its existing revolving credit facility. The Company anticipates completing the refinancing within the next several weeks, subject to market conditions. Dayton Superior is the leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. provider of specialized products consumed in non-residential, concrete construction, and we are the largest concrete forming and shoring rental company serving the domestic, non-residential construction market. Our products can be found on construction sites nationwide and are used in non-residential construction projects, including: infrastructure projects, such as highways, bridges, airports, power plants and water management projects; institutional projects, such as schools, stadiums, hospitals and government buildings; and commercial projects, such as retail stores, offices and recreational, distribution and manufacturing facilities. Note: Certain statements made herein concerning anticipated future performance are forward-looking statements. These forward-looking statements are based on estimates, projections, beliefs and assumptions of management and are not guarantees of future performance. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of important factors. Representative examples of these factors include (without limitation): * depressed or fluctuating market conditions for our products and services; * operating restrictions imposed by our existing debt; * increased raw material costs and operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. ; * our ability to increase manufacturing efficiency, leverage our purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. and broaden our distribution network; * the competitive nature of our industry in general, as well as our specific market areas; * changes in prevailing interest rates and the availability of and terms of financing. This list of factors is not intended to be exhaustive, and additional information concerning relevant risk factors can be found in Dayton Superior's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. , and current Reports on Form 8-K filed with the Securities and Exchange Commission. |
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