News after the close Fri 9/1/00:
Friday September 1, 4:22 pm Eastern Time
Press Release
Converse Inc. Announces Financing Status
NORTH READING, Mass.--(BUSINESS WIRE)--Sept. 1, 2000--Converse
Inc. (OTCBB:CVEO - news) stated that it is currently in discussions with its
senior lenders regarding the previously announced proposed transaction
whereby Euro American Investment Corporation would provide additional
liquidity under the Company's credit agreement. Converse expects that the
transaction will close by mid-September, subject to approval by the Company's
senior lenders.
The Company confirmed the announcement by Amasia Capital LLC (``Amasia'') on August 31, 2000 that it had delivered
to the Company an expression of interest for a $30 Million financing. The Company intends to explore the expression of
interest.
Converse is a leading global designer, manufacturer and marketer of high quality athletic footwear for men, women and
children. The Company is also a global licensor of sports apparel, accessories and selected footwear. The Company's
products are distributed worldwide in over 90 countries through specialty retail, sporting goods, department and shoe
stores.
Any statements set forth above indicating the belief, expectation or intent of the Company, are forward looking statements
that involve certain risks and uncertainties that could cause actual events to differ materially from those in the forward
looking statements.
Contact:
Investor Contact:
Laura Kelley
978/664-1100
or
Media Contact:
Hal Worsham
978/664-1100 |
