J.P. Morgan, Others Arrange United Stationers Facility Extension
United Stationers announced that it closed an amendment and extension of its $700 million revolving credit facility with a syndicate of financial institutions. This amendment extends the expiration date of the facility to July 6, 2018.
The revolving credit facility will be used for strategic growth initiatives, working capital and other general corporate purposes. All twelve of the financial institutions in the prior revolving credit facility participated in the extension, with J.P. Morgan Securities, U.S. Bank and Wells Fargo Securities serving as joint lead arrangers.
“We are very pleased to have such a strong showing of support from our banks and to be able to extend this important source of committed financing through 2018,” said Fareed Khan, senior vice president and chief financial officer.
United Stationers is a wholesale distributor of business products, with 2012 net sales of $5.1 billion. The company stocks a broad and deep line of approximately 130,000 items on a national basis, including technology products, traditional office products, janitorial and break room supplies, office furniture and industrial supplies.