Fender Musical to repay loan with proceeds from common stock offering

By Ashley Montgomery

Kansas City, Kan., March 8 - Fender Musical Instruments Corp. intends to use the proceeds from its sale of common stock to repay a portion of the term loan under the company's senior secured credit facility.

The company said it would use $100 million to repay the loan and use the remaining proceeds for general corporate purposes. Some of the proceeds may go to future acquisitions.

Fender is a Scottsdale, Ariz., maker of instruments.

© 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.