Fedders amends, extending existing supplemental loan, providing for additional loan

By Sara Rosenberg

New York, Oct. 23 - Fedders Corp. amended its credit facility, extending a previously obtained supplemental term loan and providing for a new $10 million supplemental term loan, according to an 8-K filed with the Securities and Exchange Commission Monday.

Certain of the borrowings under the additional supplemental term loan are conditioned on, among other things, an investment in the company by Sal Giordano, Jr., executive chairman.

The amendment was completed on Oct. 19.

Wachovia Bank is the agent on the deal.

Fedders is a Liberty Corner, N.J.-based producer and marketer of air treatment products.

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