Printer Friendly

SOUTHLAND SENIOR TERM LOAN CREDIT AGREEMENT IS AMENDED

 SOUTHLAND SENIOR TERM LOAN CREDIT AGREEMENT IS AMENDED
 DALLAS, Dec. 20 /PRNewswire/ -- The Southland Corporation announced


today that it has received approval from the requisite number of its banks to amend its senior term loan credit agreement, which will allow the company to remain in compliance with its covenants under the credit agreement for the fourth quarter of 1991. In connection with these amendments, the company will make a principal prepayment of $75 million on its senior term loan out of its existing cash, which totaled approximately $305 million as of December 19. The company has previously announced that it anticipates a shortfall in certain covenant obligations in 1992 and has advised its banks that amendments for these covenants will be addressed early in 1992.
 -0- 12/20/91
 /CONTACT: Cecilia Norwood, 214-828-7272, or Markeeta McNatt, 214-828-7209, both of Southland, or recorded update: 214-828-7587/ CO: Southland Corporation ST: Texas IN: REA SU: FNC


TS -- NY024 -- 4292 12/20/91 10:56 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 20, 1991
Words:162
Previous Article:ENSCO COMPLETES PURCHASE OF PENROD INTERESTS
Next Article:CLOSED-END FUNDS MANAGED BY PIPER CAPITAL MANAGEMENT DECLARE MONTHLY DIVIDENDS
Topics:


Related Articles
SOUTHLAND REPORTS 1991 RESULTS; ANNOUNCES PROPOSED NEW FINANCING
SOUTHLAND REPORTS 1992 FIRST-QUARTER RESULTS
SOUTHLAND REPORTS 1992 SECOND QUARTER, SIX MONTHS RESULTS
SOUTHLAND'S NEW COMMERCIAL PAPER TO BE RATED A-1+/P-1 BY STANDARD & POOR'S AND MOODY'S, BASED ON ITO-YOKADO GUARANTEE
HURCO COMPLETES DEBT RESTRUCTURING
GENICOM CORPORATION EXTENDS CREDIT FACILITY AND ACQUIRES $5.8 MILLION OF ITS 12.5% SENIOR SUBORDINATED NOTES
DUFF & PHELPS: SOUTHLAND LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATINGS REAFFIRMED AT 'AAA'
SOUTHLAND ANNOUNCES BANK REFINANCING
Oppenheimer amends the terms of its Lending Agreements.
Hillman Group Announces Amendments to Its Credit Agreements.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters