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Reuters
Published
Jul 13, 2009
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Kellwood says Deutsche Bank won't exchange bonds

By
Reuters
Published
Jul 13, 2009

CHICAGO, July 13 (Reuters) - Kellwood Co [KWD.UL], one of the largest U.S. apparel makers, said on Monday 13 July that it was trying to extend the maturity date of $140 million in bonds after Deutsche Bank (DBKGn.DE), the largest holder of the securities, chose not to be part of an exchange offer.


XOXO, Kellwood

Kellwood, whose brands include Phat Farm and Sag Harbor, said it had been trying to arrange a deal with its lenders to exchange the bonds, which expire this month, for ones that would expire in 2014. But Deutsche Bank said on Friday 10 July it would not accept the offer.

The company, which Sun Capital Partners took private in 2008, said it was shipping to customers on time and would continue to do so. At the same time, it is looking at ways to strengthen its long-term financial position, Chief Executive Michael Kramer said in a news release.

Deutsche Bank spokesman John Gallagher declined to comment. (Reporting by Brad Dorfman; Editing by Lisa Von Ahn)

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