Consolidated Graphics amends revolver, modifying pricing and leverage covenant

By Sara Rosenberg

New York, Aug. 5 - Consolidated Graphics Inc. amended its revolving credit facility, increasing pricing and revising the leverage ratio, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Pricing on the revolver can now range from Libor plus 162.5 basis points to 300 bps, up from the previous range of Libor plus 62.5 bps to 150 bps.

In addition, the commitment fee was increased to a range of 25 bps to 50 bps from a range of 15 bps to 27.5 bps.

As for the leverage ratio, it was changed to 3.75 to 1.00 from July 30 through March 31, 2010, 3.50 to 1.00 from April 1, 2010 through Sept. 30, 2010, 3.00 to 1.00 from Oct. 1, 2010 through March 31, 2011, and 2.75 to 1.00 thereafter. Prior to the amendment, the ratio was set at 2.75 to 1.00 until Sept. 30 and 2.50 to 1.00 thereafter.

The amendment was completed on July 30.

JPMorgan is the administrative agent on the deal.

Consolidated Graphics is a Houston-based provider of general commercial printing and print-related services.

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