Foamex Extends Rights Offering
Linwood, PA, July 28, 2008--Foamex International said it is extending its rights offering and second lien term loan offering to Aug. 12 from the original July 24 deadline.
Foamex's total debt as of June 29 was approximately $417.6 million, down from approximately $629 million as of April 1, 2007.
In the second lien term loan offering, the Foamex has already received assignments of second lien term loans in the amount of approximately $20.4 million. Upon closing of the offerings, total debt is anticipated to be less than $400 million.