Holley Performance obtains $15 million to cover upcoming coupon payment

New York, Sept. 11 - Holley Performance Products Inc. said it obtained a $15 million investment that will cover the upcoming coupon payment on its 12¼% senior notes due 2007 and working capital needs.

The investment was from an affiliate of a fund managed by Kohlberg & Co. LLC, Holley's indirect parent.

Holley said the investment is conditional on modifications to the note indenture to allow the company to incur additional debt and to its credit facility with Foothill Capital Corp.

The Bowling Green, Ky. company said it has started discussions with Foothill and plans and consent solicitation for the notes. Jefferies & Co. is information agent for the consent solicitation.

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