Hawker Beechcraft Corp., the jet maker part-owned by Goldman Sachs Group Inc., hired Perella Weinberg Partners LP as it seeks an amendment to the terms of its revolving credit line.
"We are entering a phase of our business during which we will likely need to address our revolving credit agreement which was last amended more than two years ago," Nicole Alexander, a spokeswoman for the company, said in an e-mailed statement.
Hawker Beechcraft is close to violating the terms of its loans, which require its cash flow to grow, as the weakening global economy cuts demand for its business jets and its liquidity slides. It's in the interest of the Wichita, Kansas- based company's lenders to agree to loosen the covenants, according to Sam Goodyear, an analyst at CreditSights Inc. in New York.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
