Reddy Ice gets loan waiver of financials delivery deadline

By Sara Rosenberg

New York, April 2 - Reddy Ice Corp. received a waiver under its revolving credit facility regarding any default resulting from its failure to deliver 2011 financial statements by March 30, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The waiver was obtained on March 30 and expires on April 16.

Also, on March 27, the company amended the revolver to eliminate the minimum liquidity covenant through July 15, 2013 and allow for the entrance into a new up to $10 million term loan.

Macquarie Bank is the administrative agent on the deal.

Reddy Ice is a Dallas-based manufacturer and distributor of packaged ice.

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