Wednesday, June 21, 2000
BETHEL, Connecticut/USA -- (21 June)Cannondale Corporation received an extension from June 15th to June 30, by which date the U.S. bicycle manufacturer must either refinance its current credit terms or be in compliance with those terms.
Cannondale said in a press release that while it does not expect to be in
compliance with the financial agreements by the date, it has committment
letters from unnamed financial institutions that would provide funds to
refinance its credit. (WJ)
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