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Talon International, Inc. Reports Extension of Debt Facility While Restructuring Terms Are Finalized

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  Published in House and Home on Thursday, July 1st 2010 at 14:00 GMT by Market Wire
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LOS ANGELES, CA--(Marketwire - July 1, 2010) - Talon International, Inc. (OTCBB: [ TALN ]), a leading global supplier of zippers, apparel fasteners, trim and interlining products, today reported that the Company remains in negotiations with CVC California, Ltd. to restructure the Company's Revolving Credit and Term Loan Agreement. In recognition of the discussions in process, CVC agreed to extend the existing debt facility for an additional thirty (30) days to July 30, 2010. The debt facility, which has an unpaid balance of principal and interest of approximately $16.4 million, was scheduled to mature on June 30, 2010.

The Company has been in discussions with CVC regarding a restructuring of this debt facility but terms agreeable to both parties have not been finalized. The parties expect to complete a restructuring of the debt facility within this extension period; however there is no assurance that an agreement will be reached, in the near term or at all.

About Talon International, Inc.
Talon International, Inc. is a global supplier of apparel fasteners, trim and interlining products to manufacturers of fashion apparel, specialty retailers, mass merchandisers, brand licensees and major retailers. Talon manufactures and distributes zippers and other fasteners under its Talon® brand, known as the original American zipper invented in 1893. Talon also designs, manufactures, engineers, and distributes apparel trim products and specialty waistbands under its trademark names, Talon, Tag-It and TekFit, to more than 60 apparel brands and manufacturers including Wal-Mart, Kohl's, J.C. Penney, Victoria's Secret, Tom Tailor, Abercrombie and Fitch, Polo Ralph Lauren, Phillips-Van Heusen, American Eagle and Juicy Couture. The company has offices and facilities in the United States, Hong Kong, China, and Bangladesh.