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This excerpt taken from the HBI 8-K filed Nov 29, 2006. Interest
expense
As part of our historical relationship with Sara Lee, we engaged
in intercompany borrowings. We also have borrowed monies from
third parties under a credit facility and a revolving line of
credit. The interest charged under these facilities was recorded
as interest expense. We are no longer able to borrow from Sara
Lee. As part of the spin off on September 5, 2006, we
incurred $2.6 billion of debt in the form of a new senior
secured credit facility, a new senior secured second lien credit
facility and a bridge loan facility, $2.4 billion of the
proceeds of which was paid to Sara Lee. As a result, our
interest expense in future periods will be substantially higher
than in historical periods.
This excerpt taken from the HBI 10-K filed Sep 28, 2006. Interest
expense
As part of our historical relationship with Sara Lee, we engaged
in intercompany borrowings. We also have borrowed monies from
third parties under a credit facility and a revolving line of
credit. The interest charged under these facilities was recorded
as interest expense. We are no longer able to borrow from Sara
Lee. As part of the spin off on September 5, 2006, we
incurred $2.6 billion of debt in the form of a new senior
secured credit facility, a new senior secured second lien credit
facility and a bridge loan facility, $2.4 billion of the
proceeds of which was paid to Sara Lee. As a result, our
interest expense in future periods will be substantially higher
than in historical periods.
This excerpt taken from the HBI 8-K filed Sep 5, 2006. Interest expense As part of our historical relationship with Sara Lee, we engaged in intercompany borrowings. We also have borrowed monies from third-parties under a credit facility and a revolving line of credit. The interest charged under these facilities was recorded as interest expense. In the future, we will no longer be able to borrow from Sara Lee. As part of the spin off, we will incur substantial debt in the form of a new senior secured credit facility, $2.4 billion of the proceeds of which will be paid to Sara Lee. As a result, our interest expense in future periods will be substantially higher than in historical periods. | EXCERPTS ON THIS PAGE:
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