20.6.2003: Meldung: Interface Inc.: Amendment and Restatement of Credit Facility
Thursday June 19, 11:37 am ET
ATLANTA, June 19 / Interface, Inc. (Nasdaq: IFSIA - News), a worldwide commercial interiors products and services company, today announced the consummation of an amendment and restatement of its revolving credit facility, effective June 18, 2003. The amended and restated facility, like its predecessor, provides a borrowing amount of up to $100 million, depending on the level of assets maintained in a specified borrowing base. The facility matures on May 15, 2005, but may be extended to October 1, 2007 if the Company meets certain conditions relating to liquidity and the repayment of long-term debt.
"The amendment and restatement of our revolving credit facility provides Interface with ample liquidity and financial flexibility, while also allowing the Company to take advantage of opportunities for growth as they arise," stated Patrick C. Lynch, Chief Financial Officer. "The new terms of the facility give Interface a strengthened capital structure and will fulfill our working capital needs, ensuring a strong foundation for our operations going forward."
Interface, Inc. is a recognized leader in the worldwide commercial interiors market, offering floorcoverings, fabrics and interior architectural products. The Company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value. The Company is the world"s largest manufacturer of modular carpet under the Interface, Heuga, Bentley and Prince Street brands, and through its Bentley Mills and Prince Street brands, enjoys a leading position in the high quality, designer-oriented segment of the broadloom carpet market. The Company provides specialized carpet replacement, installation, maintenance and reclamation services through its Re:Source Americas service network. The Company is a leading producer of interior fabrics and upholstery products, which it markets under the Guilford of Maine, Stevens Linen, Toltec, Intek, Chatham, Camborne and Glenside brands. In addition, the Company provides specialized fabric services through its TekSolutions business; produces raised/access flooring systems under the TecCrete, TecFlor, TecSteel and InterCell brands; and markets modular wiring systems under the Interface PeoplePower brand.
Source: Interface, Inc.