Brief: Celadon Group Says Co And Existing Revolving Lenders Have Agreed To Terms Expected To Extend Facility Through December 12, 2018

Celadon

03/07/2018 21:11

July 3 (Reuters) - Celadon Group Inc  CGIP.PK :
    * CELADON GROUP ANNOUNCES OPERATIONS UPDATE, CREDIT
AGREEMENT
AMENDMENT TERM SHEET, AND TERMINATION OF PREVIOUSLY ANNOUNCED
TERM LOAN TERM SHEET
    * CELADON GROUP INC - COMPANY AND EXISTING REVOLVING LENDERS
HAVE
AGREED TO TERMS EXPECTED TO EXTEND FACILITY THROUGH DECEMBER 12,
2018
    * CELADON GROUP INC - PREVIOUSLY ANNOUNCED $200 MILLION TERM
LOAN
TERM SHEET IS NO LONGER BEING PURSUED
    * CELADON GROUP INC - $100 MILLION ASSET BASED LINE OF
CREDIT TERM
SHEET DEFERRED PENDING REPLACEMENT TERM LOAN FINANCING
    * CELADON GROUP INC - COMPANY TO RESUME REFINANCING PROCESS
    * CELADON - AVERAGE REVENUE PER SEATED TRACTOR PER WEEK,
EXCLUDING
FUEL SURCHARGE REVENUE, UP APPROXIMATELY 16.5% FOR MAY 2018
VERSUS MAY 2017
    * CELADON GROUP INC - TO RESUME REFINANCING PROCESS
    * CELADON GROUP INC - PREPARING RESTATED STATEMENTS FOR 2017
AND
2018 FISCAL YEARS TO ADDRESS ACCOUNTING ISSUES
    * CELADON GROUP INC - COOPERATING WITH ONGOING
INVESTIGATIONS BY
SEC AND DOJ IN RELATION TO PREVIOUSLY ANNOUNCED RESTATEMENT

Source text for Eikon:  ID:nPn5QyRNka 
Further company coverage:  CGIP.PK 

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