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Crystal Financial would supply the $80 million line of credit immediately, supplanting a $75 million line from Bank of America which matures in July. Details on the deal were not available, although a piece in the New York Post noted it would be "long term."
In October, it was reported that another refinancing bid for the company was rejected by Lion Capital, the British investment firm that holds an $84 million term loan with American Apparel. According to the Post, Lion Capital has approved Crystal Financial's involvement.
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- Companies:
- American Apparel
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Kyle A. Richardson
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Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.
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