Gehl secures new 2-year credit pact - Business First of Columbus:

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The agreement with U.S. bank lenders provides for a totaol credit commitmentof $105 million and a term of 24 The credit line consists of an $80 millionb revolving line based on North Americahn inventories and accounts receivable and a term loan of $25 millio payable in quarterly installments. The credit pact replacees the company's October 2006 $125 million unsecured creditr facility. As part of the amendedr credit agreement, Gehl Co. has granted to its bank lenderds a security interest in all of its NorthAmericaj assets.
The amended credift agreement addresses matters that gave rise to an Apri l 16 forbearance agreement with the lendedr group that rescinds and withdraws a notice of debt repaymentf delivered onMarch 31. That agreement with lenderxs extended the repaymentof $117 million in debt underd a revolving credit agreement, which serves as the company's principakl source of liquidity. Gehl said it has significantl y reduced its outstanding borrowings using operating cash flowx created in part by the cost savinge initiatives implemented over thepast