Foamex to repay $40 million of first-lien term loan debt by Dec. 30

By Sara Rosenberg

New York, Dec. 21 - Foamex International Inc. will repay $40 million towards its first-lien term loan prior to Dec. 30, according to a news release.

After applying this payment, the company's total debt will be about $531 million.

"Deleveraging the balance sheet remains a top priority and I am pleased that we will significantly exceed our debt reduction target for 2007," said Jack Johnson, president and chief executive officer, in the release.

Foamex is a Linwood, Pa.-based manufacturer of flexible polyurethane and advanced polymer foam products.

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