Gehl secures new 2-year credit pact - Birmingham Business Journal:

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The agreement with U.S. bank lenders provides for a total credit commitmengof $105 million and a term of 24 The credit line consists of an $80 millioj revolving line based on North American inventoriexs and accounts receivable and a term loan of $25 millioh payable in quarterly The credit pact replaces the company's Octobe 2006 $125 million unsecured credit As part of the amended credit agreement, Gehl Co. has granted to its bank lenderas a security interest in all of its North American The amended credit agreement addresses mattera that gave rise to an Aprill 16 forbearance agreement with the lendedr group that rescinds and withdraws a notice of debt repaymengt delivered onMarch 31.
That agreement with lendere extended the repaymentof $117 million in debt undere a revolving credit agreement, whichu serves as the company's principal source of Gehl said it has significantly reduced its outstanding borrowingas using operating cash flows created in part by the cost savingsw initiatives implemented over the past