Payment due date a 'litmus test' for Salton; Ability to meet it this week will indicate if firm can refinance bonds.(Markets)

Crain's Chicago Business, June, 2005

Byline: JULIE JARGON All eyes will be on Salton Inc. this week when a critical $6.7-million payment comes due on $125 million in debt. The Lake Forest-based home appliance company's ability to make the payment will signal whether it can refinance the bonds, which are due in December. The June 15 payment date "is really going to be the litmus test.

Everyone is looking at that to get some indication as to whether they can refinance. It's the next milestone,'' says a Salton spokesman. "Clearly, if they don't think there's a way to restructure the debt, they probably won't make the payment. There's no reason to throw good money after bad.'' The spokesman, explaining that Salton hasn't said whether it will be able to make the payment, says a creditors...

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