By Devika Patel
Knoxville, Tenn., Feb. 4 - Bakers Footwear Group, Inc. said it has negotiated a $7.5 million term loan with Private Equity Management Group, Inc.
The loan carries a 15% coupon, with principal and interest payable monthly from March through February 2011. Private Equity Management also received 350,000 common shares.
St. Louis-based Bakers is a footwear retailer.
Issuer: Bakers Footwear Group, Inc.
| Issue: | Term loan, common shares
|
| Amount: | $7.5 million
|
| Maturity: | February 2011
|
| Coupon: | 15%
|
| Price: | Par
|
| Yield: | 15%
|
| Shares: | 350,000
|
| Warrants: | No
|
| Investor: | Private Equity Management Group, Inc.
|
| Pricing date: | Feb. 4
|
| Stock symbol: | Nasdaq: BKRS
|
| Stock price: | $3.90 at close Feb. 4
|
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