Standard Register Closes $100 Million Revolving Credit Agreement
01 Avril 2010 - 9:20PM
Business Wire
Standard Register (NYSE: SR) today announced that it has entered
into a new revolving credit agreement. The $100 million
senior-secured, asset-based credit facility matures in March, 2014,
and replaces the company's existing revolving credit agreement,
which would have matured in May, 2010. Banc of America Securities
LLC acted as the lead arranger and book runner, Bank of America,
N.A. will serve as the administrative agent, and JPMorgan Chase
Bank, N.A. will serve as the documentation agent. In addition to
Bank of America, N.A., and JPMorgan Chase Bank, N.A., the other
lenders under the credit facility are KeyBank National Association,
PNC Bank National Association and Wachovia Capital Finance
Corporation (New England). Borrowings under the facility will be
used for general corporate purposes. Details of the financing
arrangement have been included in a Form 8-K filed with the
Securities and Exchange Commission.
“We are pleased to leverage our relationships in a manner that
has allowed us to increase our borrowing capacity and to do so with
a four-year agreement,” commented Bob Ginnan, vice president,
treasurer and chief financial officer. “This will provide us
sufficient liquidity to run our current operations and make
strategic investments for our future.”
About Standard Register
Standard Register is a premier document services provider,
trusted by companies to manage the critical documents they need to
thrive in today’s competitive climate. Employing nearly a century
of industry expertise, Lean Six Sigma methodologies and other
leading technologies, the company helps organizations increase
efficiency, reduce costs, mitigate risks, grow revenue and meet the
challenges of a changing business landscape. The Company offers
document and label solutions, technology solutions, consulting and
print supply chain services to help clients manage documents
throughout their enterprises. More information is available at
http://www.standardregister.com.
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