Maidenform obtains $60 million revolver

By Sara Rosenberg

New York, May 7 - Maidenform Inc. closed on a new $60 million three-year secured revolving credit facility. Congress Financial Corp. was the lead bank on the deal.

"From its days as a Chapter 11 survivor in 1999, Maidenform has rejoined the intimate apparel industry as a significant competitor. Continued positive cash flow fostered the pay down of revolver and term loans in November '02 for a short period and current projections indicate very low revolver balances in the fourth quarter. This new credit facility will provide the support necessary to continue to focus significant resources on the Maidenform brand as well as expand our presence at retail," said Kevin Walsh, executive vice president and chief financial officer, in a news release.

Maidenform is a Bayonne, N.J. intimate apparel manufacturer.

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