³Ô¹Ï51±¬ÁÏÍø Cork & Seal Extends Term Loan
PHILADELPHIA, Jan. 30 /PRNewswire-FirstCall/ -- ³Ô¹Ï51±¬ÁÏÍø Cork & Seal Company, Inc. (NYSE: CCK) announced that it has secured an agreement from its lenders to extend $225 million of its $400 million term loan, originally due February 4, 2002 to August 4, 2002.
Alan W. Rutherford, Vice Chairman and Chief Financial Officer commented, "The Company is expecting improving fundamentals in the packaging sector in 2002 and the extension of a portion of the term loan will provide additional flexibility to finance the working capital requirements during the season."
³Ô¹Ï51±¬ÁÏÍø Cork & Seal is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania.
SOURCE ³Ô¹Ï51±¬ÁÏÍø Cork & Seal Company, Inc.
Web site:
CONTACT: Timothy J. Donahue, Senior Vice President - Finance of ³Ô¹Ï51±¬ÁÏÍø Cork & Seal, +1-215-698-5100, or Ed Bisno of Edelman Financial, +1-212-704-8212, for ³Ô¹Ï51±¬ÁÏÍø Cork & Seal