CFO Sandy Cochran has renegotiated the maturity dates of Cracker Barrel's revolving line of credit (while also shrinking it by a third) and long-term loans. About two-thirds of the revolver now won't be due until 2013, about 40 percent of the term loans until 2016. The tweaks will add about $2 million in interest costs this fiscal year for Cracker Barrel, whose shares (Ticker: CBRL) are flat on the day.
Nov 6, 2009 12:34 PM
In its quarterly filing with the SEC, Louisiana-Pacific says it spent $113 million late last month to buy back more than a third of its debt series due in 2017. The company (Ticker: LPX) will take a $21 million charge this quarter to account for the deal.
Nov 4, 2009 8:25 AM
Nashville-based retailer Genesco will convert almost $30 million of bonds into common shares over the course of the next month. When that's done, the company (Ticker: GCO) will have less than $25 million of long-term debt on its books. (Search for 'Note 7.')
Nov 3, 2009 8:10 AM
Fifth Third, the fifth-largest bank by Middle Tennessee deposits, has launched a division to lend to companies sponsored by private-equity firms.
Oct 28, 2009 9:51 AM
Nashville-based Claritas Capital has begun raising up to $100 million for a mezzanine fund that would commit between $3 million and $15 million to health care and business services companies left without capital-raising options. A team led by Morgan Keegan alum Bruton Harvey will lend based on enterprise value and charge double-digit interest rates.
Claritas is aiming at health care-services and business-services companies with $2 million to $10 million in earnings before interest, taxes, depreciation and amortization. Banks have fled that market since the meltdown, and Claritas is betting they won’t return for two to three years.SEE ALSO: Banks are hurting small biz's growth potential
Oct 13, 2009 3:14 PM
Three tidbits from the world of Nissan: • Cash for clunkers lifted August sales of the Versa, but the truck segment is still wheezing. • The auto maker is preparing to bring to market more than $1 billion in debt backed by auto loans that will be covered by a Federal Reserve program aimed at making the credit-card, student-loan and auto-loan markets more liquid. • Cars.com calls the Altima one of the most improved cars of the last decade: "Its accomplishment since 2002 is how it's provided sportier looks and driving than the big dogs have, without sacrificing livability."
Sep 2, 2009 7:28 AM