The US glass group, Libbey Inc. said last week that it had agreed with its bank lenders to increase its revolving credit facility to US$ 380 million from US$ 300 million.
Under the terms of the amend…
The US glass group, Libbey Inc. said last week that it had agreed with its bank lenders to increase its revolving credit facility to US$ 380 million from US$ 300 million. Under the terms of the amended revolving credit facility, the maturity date has been extended to May 2002 from October 1999 and borrowing rates, under certain circumstances, are lower than under previous conditions. Libbey said it expects the increase in the size of the facility will satisfy the financing needs associated with the proposed investments in the WorldCrisa and Vitrocrisa operations, both part of Mexico“s Vitro SA group, reported last week in Glassonline World News. In 1996, Libbey“s net sales totalled US$ 398 million.