Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Champion Home Builders Co. > News item |
Champion amends loan, changing pricing and financial covenants
By Sara Rosenberg
New York, Oct. 31 - Champion Home Builders Co. amended its credit facility, changing pricing to Libor plus 325 basis points and modifying the senior leverage ratio (see table 1) and the interest coverage ratio (see table 2), according to an 8-K filed with the Securities and Exchange Commission Wednesday.
The amendment was completed on Oct. 25.
Credit Suisse is the administrative agent on the deal.
Champion Home Builders is a wholly owned subsidiary of Champion Enterprises, Inc., an Auburn Hills, Mich.-based builder of manufactured homes.
Table 1: Senior Leverage Ratio
Fiscal Quarter Senior Leverage Ratio
Fourth Fiscal Quarter of 2007 3.50:1
First Fiscal Quarter of 2008 3.25:1
Second Fiscal Quarter of 2008 3.00:1
Third Fiscal Quarter of 2008 3.00:1
Fourth Fiscal Quarter of 2008 3.00:1
First Fiscal Quarter of 2009 3.00:1
Second Fiscal Quarter of 2009 3.00:1
Third Fiscal Quarter of 2009 3.00:1
Fourth Fiscal Quarter of 2009 2.75:1
First Fiscal Quarter of 2010 2.75:1
Second Fiscal Quarter of 2010 2.75:1
Third Fiscal Quarter of 2010 2.75:1
Fourth Fiscal Quarter of 2010 2.50:1
First Fiscal Quarter of 2011 2.50:1
Second Fiscal Quarter of 2011 2.50:1
Third Fiscal Quarter of 2011 2.50:1
Fourth Fiscal Quarter of 2011 2.25:1
First Fiscal Quarter of 2012 2.25:1
Second Fiscal Quarter of 2012 2.25:1
Each Fiscal Quarter thereafter 2.00:1
Table 2: Interest Coverage Ratio
Fiscal Quarter Interest Coverage Ratio
Fourth Fiscal Quarter of 2007 2.25:1
First Fiscal Quarter of 2008 2.25:1
Second Fiscal Quarter of 2008 2.25:1
Third Fiscal Quarter of 2008 2.25:1
Fourth Fiscal Quarter of 2008 2.25:1
First Fiscal Quarter of 2009 2.25:1
Second Fiscal Quarter of 2009 2.25:1
Third Fiscal Quarter of 2009 2.25:1
Fourth Fiscal Quarter of 2009 2.50:1
First Fiscal Quarter of 2010 2.50:1
Second Fiscal Quarter of 2010 2.50:1
Third Fiscal Quarter of 2010 2.50:1
Fourth Fiscal Quarter of 2010 2.75:1
First Fiscal Quarter of 2011 2.75:1
Second Fiscal Quarter of 2011 2.75:1
Third Fiscal Quarter of 2011 2.75:1
Each Fiscal Quarter thereafter 3.00:1
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.