Salton amends term loan, increasing size and pricing

By Sara Rosenberg

New York, May 2 - Salton Inc. amended its term loan, increasing the size by $15 million to $125 million and raising pricing by 150 basis points, according to an 8-K filed with the Securities and Exchange Commission Friday.

In addition, the amendment also provides a delayed-draw option to draw an additional $15 million in the next 24 months in installments of at least $5 million, and provides for a PIK option from Jan. 31 through March 31, 2009.

The additional funded and delayed-draw debt will be used for general corporate purposes.

The amendment was completed on April 29.

Harbinger Capital Partners Master Fund I, Ltd. is the administrative agent on the deal.

Salton is a Lake Forest, Ill.-based maker of small appliances, home decor and personal care products.

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