|
USA. Tecumseh Products announces further delay of third quarter 06 results |
|
|
|
|
Wednesday, 15 November 2006 |
Company news:
Tecumseh Products Company (NASDAQ:TECUA) (NASDAQ:TECUB) has announced that it will further delay reporting its 2006 third quarter results because it needs additional time to close its books and evaluate the accounting for income taxes in its interim periods. The conference call previously planned for Tuesday, November 14, 2006 will be rescheduled at a date and time to be announced.
In addition, on November 13, 2006, the Company entered into a new Second Lien Credit Agreement with Tricap Partners, LLC. The new Second Lien Credit Agreement provides $100 million in new financing at terms favorable to the previously amended Second Lien Credit Agreement. Proceeds from the new agreement will be used to repay the previous second lien lenders and reduce borrowings under the First Lien Credit Agreement. The Company will file a Form 8-K containing more detailed information about its lending arrangements.
|
|
Last Updated ( Wednesday, 15 November 2006 )
|