Amcast Industrial restructures credit facilities deferring note prepayment until Nov. 2003

By Sara Rosenberg

New York, July 16 - Amcast Industrial Corp. restructured its credit facilities with its bank group and senior note holders. Under the restructuring agreement, the bank loans have been continued through Sept. 14, 2003 and a required $12.5 million prepayment under the senior notes has been deferred until Nov. 2003.

"We are extremely pleased with the confidence and support expressed by our bank-lending group and senior note holders," said Byron O. Pond, chairman of the board and chief executive officer, in a press release. "The restructuring of our credit facilities is an important step in allowing the company to continue implementing its world class initiatives and return to profitability."

After restructuring, long-term debt at the end of the third quarter was $160.4 million and short-term debt was reduced to $25.4 million.

Amcast is a Dayton, Ohio manufacturer of technology intensive metal products.

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