Mad Catz Incurs Increased Borrowing Costs

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Mad CatzMad Catz violated covenants relating to its earnings for a $35 million credit facility from Wachovia Capital Finance. Fortunately, Wachovia has agreed to continue the credit facility, but increasing Mad Catz's cost of borrowing under the facility by 0.5%. So, Mad Catz won't lose its facility, but it will have to pay more for its money.

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This page contains a single entry by Editor published on March 19, 2009 9:37 AM.

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