US: Cosentino given debt extension
Cosentino Signature Wines has been granted a stay of execution on its debt facility.
The Napa Valley-based winery said yesterday (6 February) that its senior lender has agreed to extend the maturity date of its US$18m debt facility to 31 March. The move is subject to the subordinated lender agreeing a corresponding extension on its $5m debt facility to 31 March, and Cosentino having complied with all the conditions to such extension.
Earlier this year, Cosentino warned that operating losses for 2006 would come in slightly higher than expected.
In a trading update in January, the company noted that, while revenues grew last year, operating loss was likely to be in the region of US$3.4m.
Cosentino Signature Wines, the AIM-listed Napa Valley wine company, has issued an upbeat trading statement for the first half of the year. The company reported that sales in the first half of the year...
Cosentino Signature Wines has posted a massive loss for last year....
Cosentino Signature Wines has secured further backing to finance its debts....
The chief executive of Cosentino Signature Wines has resigned from the company as a condition for the California-based wine group securing a US$3m loan....
Cosentino Signature Wines has warned that operating losses for 2006 will come in slightly higher than expected....
The financial problems at Cosentino Signature Wines have led to a key executive leaving the company....
Ailing Californian wine group Cosentino Signature Wines has secured a further two months of debt finance, the company said today (11 December)....
Cosentino Signature Wines has agreed the terms of subordinated loans totalling US$1m from company directors Larry Soldinger and Michael Forman....
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