Mohawk Refinances Credit Line

Calhoun, GA, Oct. 31--Mohawk Industries Inc. said Friday that it refinanced its $450 million revolving credit line with a $300 million credit line Sept. 30, according to its quarterly report filed with the Securities and Exchange Commission. The company said the $300 million credit line bears interest at the London interbank offered rate plus 0.4% to 1.5%, depending on Mohawk Industries' performance measure against some financial ratios. Mohawk Industries said the term for $200 million of the credit line is five years and the term for $100 million is 364 days. The company also said that in addition to the credit line, it has secured $50 million in short-term uncommitted lines. It said all the credit lines are unsecured.