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Breaking Flooring News

The Dixie Group completes financing

March 17, 2003
The Dixie Group announced that it has issued $37 million of senior term notes, due May 2007, amended its senior credit facility, and settled the $50 million obligation that was due in April 2003 to the former shareholders of Fabrica.

The amended senior credit facility provides revolving credit of up to $90 million, a $38.4 million term loan, and additional borrowing availability under the company's borrowing base.

After completing the transactions, including payment of the Fabrica obligation, the company's unused borrowing capacity under its new credit arrangements was approximately $19.4 million.

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