Credit Guide

By Alan Fein

Card Consolidation Credit Debt Huttig Building Products managed to complete a new five-year $160 million secured credit facility after going on a "bankers' diet", shedding unwanted assets.If you would like to receive late breaking news on stocks covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.Print This Page

In conjunction with the closing of this offering, Corel borrowed US $90.0 million under the term loan portion of its new credit facility. Corel will use these proceeds, together with net proceeds of approximately US $69.0 million from the offering, to repay outstanding debt under its existing credit facilities and all outstanding indebtedness of WinZip, to pay financing fees and expenses associated with its new credit facility, and for general corporate purposes, which may include acquisitions.

Credit Union Sept 28, 2004 (AXcess News) St Loius - Huttig Building Products, Inc. (NYSE: HBP) completed a new five-year $160 million secured, credit facility consisting of a $130 million revolving loan commitment and a $30 million term loan.

He added that people need to use their credit report to identify "the right lenders", who are most likely to accept an application for credit. "The days of easy credit are drawing to an end for many people, " he said. half million people have been turned down for credit in the lat year, 1.7 million for credit cards and 1.5 million for personal loans. profiling service to help borrowers build up a better idea of their credit report.

Merchant Credit Guide Co The deal was managed by LaSalle Bank National Association. Six banks, including LaSalle Bank, participated in the syndication.

Unused credit cards are putting millions of Brits at greater risk of falling victim to identity theft, according to a specialist credit history firm.

Apply Online For Credit Card The credit facility replaces a three-year secured line of $150 million revolving facility, which was priced at LIBOR plus 200 to 300 basis points and was due to mature in August 2005. The LaSalle deal is at LIBOR plus 100 to 200 basis points.

By Card Credit Debt Debt Guide Thomas S. McHugh, CFO, commenting on the LaSalle deal Tuesday morning said, "This new credit facility and improved pricing reflects Huttig's strong balance sheet, excellent financial performance over the last 15 months and our favorable outlook. The increased size of the facility will enhance our ability to expand our existing distribution network and take advantage of acquisition opportunities as they arise."McHugh's company has been shedding subsidiary businesses in an attempt to meet its goal of a 5% internal growth rate in sales and a 5% return on sales by 2005. What the company didn't say was whether it was their plan - or the banks criteria.Advertisement

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Credit Repair July 30 the company announced the sale of American Pine Products mouldings manufacturing business, located in Prineville, Oregon, to Woodgrain Millwork, Inc. for approximately $13.8 million. The cash is to be used to reduce debt.

Active Credit Credit Guide Hutting's said August 30 that it sold its Builder Resource branches located in the Kansas City area to McCray Lumber Company for $6.6 million, keeping over $8 million in accounts receivable. Again, the cash was used to reduce debt.

Credit Score McHugh did not return our phone call in order to comment on today's news from the company. But you have to give the CFO credit for paring down interest rates in a tough loan with as many moving parts that a bank could create, I'm sure. What seemed to miss the street today was the skill in which McHugh and the board manuavered through a five-year term verses the previous three-year term the new credit facility replaced.

Bad Car Credit Guide Loan Oddly, his office would not provide AXcess News with a contact at LaSalle to comment on the loan as McHugh, the appointed contact for media I was told, neglected to include that information in his release this morning.Huttig Building (NYSE: HBP) shares were down 19 cents, or 2.06%, at $9.03 by 2:30pm ET Tuesday on less than 1/3 its 90-day average daily trading volume of 48,681.It only took 15,500 shares to trade to knock it down 2 percent.

Bad Credit Loan Motley Fool's Whitney Tilson wrote in a story Aug 27 that Huttig Building was sensative to economic fluxuations and prone to follow the market along with its larger competitors, Home Depot and Lowes. But not today.

Credit Definition Derivative Home Depot (NYSE: HD) closed at $38.90, up 59 cents. Lowes (NYSE: LOW) closed at $53.67, up 24 cents. Huttig Building (NYSE: HBP) managed to regain some of its loss closing at $9.10, down 12 cents.

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