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New agent named for Jarden loan agreement


Jarden Corp., the Rye-based consumer products maker, said that Deutsche Bank AG will replace Lehman Brothers’ commercial paper subsidiary as the administrative agent for a loan agreement that supplies credit to Jarden.

The change is part of Jarden’s settlement of outstanding claims against Lehman Brothers, which filed for bankruptcy last year. The settlement also includes repayment of Lehman’s outstanding revolving credit loans to Jarden on mutually acceptable terms to both parties, according to Jarden.

“We are happy to put the distraction of Lehman’s bankruptcy behind us and we look forward to our new expanded relationship with Deutsche Bank,” said Martin E. Franklin, chairman and chief executive officer at Jarden.

This entry was posted on Thursday, January 29th, 2009 at 4:22 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Credit



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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.


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