Cenveo (CVO) Refinances Balance of 7.875% Notes
- Wall Street drops as investors brace for presidential debate
- Disney (DIS) Working with Adviser on Potential Twitter (TWTR) Bid - Bloomberg
- Rice Energy (RICE) Acquires Vantage Energy in $2.7B Deal; FY16 Outlook Updated
- Kite Pharma (KITE) Announces Positive Topline Data from KTE-C19 ZUMA-1 Study in Aggressive NHL
- After-Hours Stock Movers 09/26: (KITE) (SNX) (ARRY) Higher; (SXL) (NAT) (RICE) Lower (more...)
Cenveo Corporation, a wholly-owned subsidiary of Cenveo, Inc. (NYSE: CVO), completed the steps necessary to refinance the remainder of its 7.875% senior subordinated notes due 2013 ("7.875% Notes"). The Company received the necessary consents to amend and supplement its existing senior secured credit agreement to, among other things, (i) allow for up to $50 million of a new unsecured loan to be prepaid on substantially similar terms as its currently outstanding 7.875% Notes, and (ii) modify certain financial covenants for increased financial flexibility. Simultaneously, the Company raised an additional $15 million of secured term loans due 2016 ("Additional Term Loan") under its senior secured credit agreement. The Company also announced that it secured a commitment from Macquarie Capital for a $50 million unsecured term loan due 2017 ("Unsecured Loan"), subject to customary terms and conditions. Together with the company's revolving credit facility, proceeds of the Unsecured Loan will be used to fund the redemption of the 7.875% Notes. Lastly, the Company announced that it has initiated a mandatory and irrevocable redemption of the 7.875% Notes. The 7.875% Notes will be repaid at par plus accrued and unpaid interest on January 22, 2013.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ALLETE, Inc. (ALE) CFO Steve DeVinck to Retire
- Merrill Lynch Fines $3M by Six Exchanges Over Supervision Rules Violations (BAC)
- Pieris Pharma (PIRS) Says It Presented Positive Data for Lead Drug Candidate PRS-343
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!