Corporate News Releases
Fedders Corporation Signs Commitment Letter with
Goldman Sachs Credit Partners L.P.
for $90 Million Senior Secured Credit Facilities
CONTACT:
Kent Hansen
Fedders Corporation
(908) 604-8686
http://www.fedders.com
LIBERTY CORNER, New Jersey -- March 6, 2007 -- Fedders Corporation (Pink Sheets: FJCC) today announced that it has signed a commitment letter with Goldman Sachs Credit Partners L.P. for $90 million in financing under senior secured credit facilities. The proceeds of the financing will be used to refinance the company's existing $50 million senior credit agreement, for ongoing working capital requirements and for general corporate purposes. The financing is subject to the satisfaction of certain conditions precedent set forth in the commitment letter on or prior to March 30, 2007.
This news release may include forward-looking statements that are covered under the "Safe-Harbor" clause of the Private Securities Litigation Reform Act of 1995. Such statements are based upon current expectations and assumptions. Actual results could differ materially from those currently anticipated as a result of known and unknown risks and uncertainties including, but not limited to, weather and economic, political, market and industry conditions and reliance on key customers. Such factors are described in Fedders' SEC filings, including its most recently filed annual report on Form 10-K. The company disclaims any obligation to update any forward-looking statements to incorporate developments occurring after release of this announcement. Visit the Fedders investor information website at http://www.fedders.com to access additional information on Fedders.
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