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.