Bombay gets $10 million term loan

By Sara Rosenberg

New York, June 11 - The Bombay Co. closed on a new $10 million secured term loan due Oct. 24, 2011 with a fund managed by GB Merchant Partners, LLC, according to an 8-K filed with the Securities and Exchange Commission Monday.

The term loan is priced at Libor plus 700 basis points, with call protection of 102 in year one and 101½ in year two.

In connection with the term loan, the company amended its revolving credit facility with General Electric Capital Corp. to allow for the new debt.

Bombay is a Fort Worth, Texas-based designer, importer and marketer of proprietary home furnishings.

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