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These excerpts taken from the HBI 10-K filed Feb 19, 2008. Notes
Payable
Notes payable were $19.6 million at December 29, 2007
and $14.3 million at December 30, 2006.
We have a short-term revolving facility arrangement with a
Chinese branch of a U.S. bank amounting to RMB
56 million ($7,661) of which $6,334 was outstanding at
December 29, 2007 which accrues interest at
Table of Contents
5.59%. Borrowings under the facility accrue interest at the
prevailing base lending rates published by the People’s
Bank of China from time to time less 10%. We were in compliance
with the covenants contained in this facility at
December 29, 2007.
We have a short-term revolving facility arrangement with an
Indian branch of a U.S. bank amounting to INR
259 million ($6,560) of which $6,245 was outstanding at
December 29, 2007 which accrues interest at 10.5%. We were
in compliance with the covenants contained in this facility at
December 29, 2007.
We have other short-term obligations amounting to $6,998 which
consisted of a short-term revolving facility arrangement with a
Japanese branch of a U.S. bank amounting to JPY
1,100 million ($9,671) of which $2,010 was outstanding at
December 29, 2007 which accrues interest at 2.50%, multiple
short-term credit facilities and promissory notes acquired as
part of our acquisition of a sewing facility in Thailand,
totaling THB 200 million ($6,612) of which $1,339 was
outstanding at December 29, 2007 which accrues interest at
an average rate of 5.59%, and a short-term revolving facility
arrangement with a Mexican branch of a U.S. bank amounting
to MXN 163 million ($15,024) of which $3,649 was
outstanding at December 29, 2007 which accrues interest at
9.42%. We were in compliance with the covenants contained in the
facilities at December 29, 2007.
In addition, we have short-term revolving credit facilities in
various other locations that can be drawn on from time to time
amounting to $64 million of which $0 was outstanding at
December 29, 2007.
In connection with the acquisition of Industrias Duraflex, S.A.
de C.V. in August, 2007, we issued a non-interest bearing note
payable to the former owners in the amount of $27 million
that was paid in full as of December 29, 2007.
Notes Payable Notes payable were $19.6 million at December 29, 2007 and $14.3 million at December 30, 2006. We have a short-term revolving facility arrangement with a Chinese branch of a U.S. bank amounting to RMB 56 million ($7,661) of which $6,334 was outstanding at December 29, 2007 which accrues interest at
Table of Contents5.59%. Borrowings under the facility accrue interest at the prevailing base lending rates published by the People’s Bank of China from time to time less 10%. We were in compliance with the covenants contained in this facility at December 29, 2007. We have a short-term revolving facility arrangement with an Indian branch of a U.S. bank amounting to INR 259 million ($6,560) of which $6,245 was outstanding at December 29, 2007 which accrues interest at 10.5%. We were in compliance with the covenants contained in this facility at December 29, 2007. We have other short-term obligations amounting to $6,998 which consisted of a short-term revolving facility arrangement with a Japanese branch of a U.S. bank amounting to JPY 1,100 million ($9,671) of which $2,010 was outstanding at December 29, 2007 which accrues interest at 2.50%, multiple short-term credit facilities and promissory notes acquired as part of our acquisition of a sewing facility in Thailand, totaling THB 200 million ($6,612) of which $1,339 was outstanding at December 29, 2007 which accrues interest at an average rate of 5.59%, and a short-term revolving facility arrangement with a Mexican branch of a U.S. bank amounting to MXN 163 million ($15,024) of which $3,649 was outstanding at December 29, 2007 which accrues interest at 9.42%. We were in compliance with the covenants contained in the facilities at December 29, 2007. In addition, we have short-term revolving credit facilities in various other locations that can be drawn on from time to time amounting to $64 million of which $0 was outstanding at December 29, 2007. In connection with the acquisition of Industrias Duraflex, S.A. de C.V. in August, 2007, we issued a non-interest bearing note payable to the former owners in the amount of $27 million that was paid in full as of December 29, 2007. This excerpt taken from the HBI 10-Q filed Nov 13, 2006. Notes
Payable
We have a RMB 50 million ($6.35 million) short-term
revolving facility arrangement with a Chinese branch of a
U.S. bank. The facility is dated January 27, 2006 and
is renewable annually. Borrowings under the facility accrue
interest at the prevailing base lending rates published by the
People’s Bank of China from time to time less 10%. As of
September 30, 2006, $4.8 million was outstanding under
this facility. We were in compliance with the covenants
contained in this facility at September 30, 2006.
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