Dresser seeking amendment to extend financial delivery deadlines

By Sara Rosenberg

New York, Aug. 7 - Dresser Inc. is looking to amend its senior secured credit facility and get consent under its senior unsecured term loan to extend deadlines for providing financial statements, according to a company news release.

Under the proposal, the deadline for providing audited financial statements for the fiscal year ended Dec. 31, 2005 would be extended to Dec. 31 from Sept. 30, and the deadline for providing all 2006 quarterly financial statements would be extended to March 31, 2007 from Sept. 30.

In addition, the amendment would extend the tenor of the revolver to April 10, 2008 from April 10, 2007, would allow for a new $50 million synthetic letter of credit facility and address certain technical aspects of the facilities.

Dresser is a Dallas-based designer, manufacturer and marketer of highly engineered equipment and services sold primarily to customers in the flow control, measurement systems, and compression and power systems segments of the energy industry.

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