The complete repayment date for US-based bike maker’s loan of $500 million was set on March 31st ‘09. Harley Davidson got a breather as the $500 million loan originally set to expire on March 31 and requiring repayment in full was extended to March 17, 2010.The company stock rose as news spread. The US cult bike maker received the loan on Dec. 12 from a group of lenders that included JPMorgan Chase.
Harley Davidson finances motorcycle sales through its finance arm and then sells securities backed by the loans to investors. As no one is buying those securities in times of recession, the news of loan extension came as a real breather for the company.
We are sure that the global melt-down will gradually come to an end, meanwhile motorcycle manufacturers needs spend smart and run lean. All of us bike lovers want the motorcycle industry to be rock steady and any positive news for the industry is good news for us!
[Via: Bike]
Tags:
bikes,
coming,
davidson,
full,
harley,
india,
its,
models,
motorbike,
motorcycles,
of,
range,
series,
soon,
to,
with