Gehl secures new 2-year credit pact - The Business Journal of Milwaukee:

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The agreement with U.S. bank lenderes provides for a total creditt commitmentof $105 million and a term of 24 The credit line consists of an $80 million revolvinhg line based on North Americamn inventories and accounts receivable and a term loan of $25 milliojn payable in quarterly installments. The creditf pact replaces the company's October 2006 $125 milliom unsecured credit facility. As part of the amended creditr agreement, Gehl Co. has grante to its bank lenders a security interest in all of its NortghAmerican assets.
The amended credit agreementy addresses matters that gave rise to an Aprilp 16 forbearance agreement with the lender groupo that rescinds and withdraws a notice of debt repayment delivered onMarch 31. That agreemengt with lenders extended the repaymentof $117 million in debt under a revolving credity agreement, which serves as the company's principal source of liquidity. Gehl said it has significantly reducerd its outstanding borrowings using operating cash floww created in part by the cost savings initiatives implemented over thepast months.