Monaco Coach signs two financing agreements

Greater Fort Wayne Business Weekly

Coburg, Ore.-based Monaco Coach Corp. has agreed to two financing arrangements designed to give the company liquidity and flexibility in uncertain financial times.

In a statement, Monaco Coach said the first is a three-year, $90-million revolving working capital loan and security agreement with several financial institutions, with Bank of America serving as agent for the lenders.

The company also executed a secured financing agreement with Ableco Finance LLC for a 3 1/2-year, $39.3-million secured term loan.

The funding of these loan facilities is scheduled to occur today and will pay off and retire an existing credit agreement, Monaco Coach said.

About 700 employees work at Monaco Coach facilities in Warsaw, Milford and Goshen.