Foamex anticipates closing on $320 million loan shortly

By Sara Rosenberg

New York, Aug. 13 - Foamex expects to complete the refinancing of its bank debt with a new $320 million facility in the near future. Bank of America, GE Capital and Silver Point Capital are the lead banks on the deal.

The facility consists of a $240 million asset-based credit facility made up of a $190 million revolving credit facility and a $50 million term loan and an $80 million second lien loan due in April 2007.

The new facility would replace the existing $262 million bank facility and will result in increased financial flexibility and liquidity, according to a news release

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