Fedders completes US$90 million senior secured credit financing

On March 20, 2007, Fedders Corporation announced that it had completed its $90 million senior secured financing. The proceeds of the financing are being used to refinance the company's existing $50 million senior credit agreement, for ongoing working capital requirements and for general corporate purposes. The financing was arranged by Goldman Sachs Credit Partners L.P. Fasken Martineau acted as Canadian counsel to Fedders Corporation in connection with this financing with a team consisting of Brian Wright and David Ferris.