Pepperell Deal Financing May Be in Trouble:...
From Times Staff and Wire Reports
Pepperell Deal Financing May Be in Trouble: Chicago businessman William Farley may be having trouble financing his $1.56-billion acquisition of West Point-Pepperell Inc., according to published reports. The New York Times cited an SEC filing saying banks that made a $1.03-billion bridge loan to West Point-Pepperell had agreed to extend the loan through March and perhaps through June in return for additional fees and higher interest rates. The banks in turn granted West Point-Pepperell permission to advance money to West Point Acquisition Corp., a company owned by Farley that owns 95% of Pepperell.
