Wells Fargo, UBS Provide $4.1B Financing to Staples

Office supply retailer Staples entered into an ABL agreement with Wells Fargo and a term loan credit agreement with UBS which provide for $4.1 billion in financing.

Wells Fargo, Fifth Third, Others Support Sycamore Staples Buy

Sycamore Partners will acquire Staples for $10.25 per share in cash, or approximately $6.9 billion. UBS Investment Bank, BofA Merrill Lynch, Deutsche Bank, Credit Suisse, Royal Bank of Canada, Jefferies, Wells Fargo Bank and Fifth Third Bank are providing debt financing for the transaction.

Hilco Capital Acquires Staples’ UK Retail Business

Staples reached an agreement to sell its UK retail business and operations to Hilco Capital for nominal proceeds.

JPMorgan Chase, Wells Fargo Arrange $1.2B Office Depot Facility

The merger agreement between Staples and Office Depot has been terminated. Simultaneously, JPMorgan Chase and Wells Fargo arranged a $1.2 billion five-year credit facility for Office Depot.

Staples’ Term Loan Remains in Place despite FTC Complaint

Reuters reported that Staples’ $2.75 billion term loan backing the acquisition of Office Depot will remain in place despite a complaint filed by the FTC on antitrust concerns.

Staples Teams With Lendio to Deliver Small Business Funding

Staples launched the “Staples Business Loans powered by Lendio” service to help small business owners get quick and easy access to capital. The company teamed up with Lendio to deliver a suite of funding options.