Elizabeth Arden plans amendment of facility to push out maturity

By Jennifer Chiou

New York, Jan. 6 - Elizabeth Arden Inc. announced in its second-quarter ended Dec. 31 report that it intends to enter into an amended and restated asset-based revolving credit facility.

The company said that, among other things, it is looking to extend the maturity date to January 2016 from December 2012.

In addition, Arden added that the size will be reduced to $300 million from $325 million based on the company's expected usage for working capital requirements.

According to a news release, the size may be increased by $75 million at any time without entering into a formal amendment.

Borrowings at Dec. 31 stood at $37 million.

The Miramar, Fla.-based beauty products company also has global headquarters in New York and Geneva, Switzerland.

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