Wabash National buys valuable time

May 2009
Trailer / Body Builders;May2009, Vol. 50 Issue 7, p5
Trade Publication
The article reports on the decision of Wabash National and its bank group to enter into a forbearance agreement on a revolving line of credit and not to accelerate maturity on the line through May 29, 2009. The "Lafayette Journal and Courier" cites that Wabash has an estimated $13 million liquidity as of April 30. A total of 180 salaried employees has been dismissed by Wabash due to economic uncertainty. Its exclusive financial advisor, BB&T Capital Markets, has been retained.


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