Foamex to get $54 million incremental bank financing to repay notes

By Ted A. Knutson and Sara Rosenberg

Washington, Nov. 5 - Foamex International Inc.'s lenders have agreed to provide the company with $54 million in incremental bank debt that will be used to repay $51.6 million outstanding 13½% senior subordinated notes due August 2005.

The $54 million is comprised of up to $15 million in a term loan under Foamex's $240 million senior secured credit facility due April 30, 2007 and up to $39 million in loans under the company's secured term loan facility due April 1, 2009.

Linwood, Pa.-based Foamex is manufacturer of polyurethane foam products.

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