Cracker Barrel tweaks debt deals

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

LP buys back chunk of debt

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

Genesco in stock-for-debt swap

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

If doing it three times is good...

American HomePatient and its debt holders have for the fourth time extended a repayment deadline for $226 million that was originally due Aug. 1.
Nov 2, 2009 8:18 AM

Fifth Third launches private-equity lending unit

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

Local investors look to fill bank credit gap with $100M fund

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

Gaylord finds some willing sellers

Bondholders of the Nashville-based hotel and convention operator have submitted for redemption more than $200 million of debt due in 2013.
Oct 8, 2009 9:50 AM

We'll have the money next month

American HomePatient has negotiated a third extension to the deadline for paying back more than $220 million in debt. Mark your calendars for Nov. 2.
Oct 2, 2009 7:27 AM

LP cuts the check

After raising more than $130 million in a stock offering, Louisiana-Pacific execs have given the word to Bank of New York Mellon to redeem more than a third of the $375 million of debt it raised earlier this year.
Sep 29, 2009 1:36 PM

Nissan wrap: Sales, new debt and a nod from Cars.com

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