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Crain's Detroit Business, October, 2004
Tags: company
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Oxford Auto closes $100M refinancing of debt Struggling auto supplier Oxford Automotive Inc. closed on a $100 million refinancing deal that will help the company meet short-term cash needs and help with launches. Troy-based Oxford reached the deal with a committee of its bondholders. About $47 million of the $100 million will be used to pay off the previous secured loan.
The rest will be used for operations. More than 75 percent of Oxford's bondholders agreed to the new terms. Under the agreement, Oxford has to meet certain financial numbers, which were not disclosed. The ...
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