Escalade, Inc. based in Evansville, IN, announced that, on April 30, 2009, it signed a new loan agreement with JP Morgan Chase Bank, N.A. (Chase) for a senior secured revolving credit facility in the maximum amount up to $50 million and through Chase London Branch, a senior secured revolving credit facility in the maximum amount of 3 million Euro depending upon certain terms and conditions. The credit facility has a maturity date of May 31, 2010. The agreement includes the waiver of the company's covenant violations under the prior credit facility with Chase.
“We are pleased with the strong support from Chase,” stated Robert J. Keller, President and Chief Executive Officer of Escalade, Inc. “We believe this new credit facility enables Escalade to continue to execute our business strategy.”
Escalade makes pool tables, table tennis tables, game tables,
basketball systems and wood playsets, Its sports brands include:
Goalrilla, Goaliath, Silverback, Stiga, Mizerak, Murrey Billiards,
Mosconi Billiards, The Black Widow, ChildLife Harvard Game, Murrey
Game, Accudart, Bear Archery, Fred Bear, Jennings Archery, The Step and
US Weight. It also owns a home furnishings business.