Daily News: May 23, 2012

WFCF Arranges $200MM Credit Facility for School Specialty


Wells Fargo Capital Finance acted as lead arranger and administrative agent on a $200 million senior secured revolving credit facility for School Specialty, Inc. The facility will be used to refinance existing debt, and for ongoing working capital purposes.

School Specialty distributes educational products to the pre-kindergarten through 12th grade market with instructional solutions that address the full spectrum of educational needs, from basic school supplies to standards-based curriculum solutions. School Specialty offers its products through its two operating groups, Education Resources and Accelerated Learning.

“We are extremely excited about our new lending relationship with School Specialty,” said Andrea Hedrick, director at Wells Fargo Capital Finance. “We are confidant that our asset-based facility more appropriately aligns with the company