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Creditors add wrinkle in Boeing's Vought dea

Posted on July 16, 2009 6:00 AM
Creditors of Vought Aircraft Industries Inc. are apparently balking at the privately held company's plans to amend its credit agreements as part of its $580 million sale of an assembly facility to Boeing Co.

Vought last week announced its intention to sell a North Charleston, S.C., facility where part of Boeing's 787 Dreamliner commercial aircraft is pieced together. Vought, according to Standard & Poor's Leveraged Commentary & Data, is using Barclays Capital to seek the credit amendment, offering lenders $305 million of the sale price with the remainder considered payment from Boeing for work performed.

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