TITLE

American Apparel Up Against the Wall

AUTHOR(S)
MacFayden, Ken
PUB. DATE
May 2010
SOURCE
Mergers & Acquisitions Report;5/24/2010, Vol. 23 Issue 21, p16
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the impact of the second lien facility of Lion Capital on American Apparel. Keybanc Capital Markets analysts relates that a liquidity event is made by a combination of tight covenants and a continuation of weak operating trends. It notes that the warrants of Lion Capital account for 18% of the company's total equity holdings. Moreover, American Apparel will cooperate with Lion Capital to amend the loan ahead of the default.
ACCESSION #
50874730

 

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