Standard Register gets $100 million revolver led by Bank of America

By Sara Rosenberg

New York, April 1 - Standard Register Co. closed on a new $100 million four-year senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Bank of America is the administrative agent on the deal that was completed on March 31.

Pricing on the revolver can range from Libor plus 300 basis points to 350 bps based on the company's level of liquidity.

There is a commitment fee that can range from 50 bps to 75 bps based on the level of unused aggregate commitment on the first day of each fiscal quarter.

Security is substantially all the personal property of the company.

Proceeds were used to refinance an existing $100 million senior secured credit facility that was due to expire in May.

A total of $34 million was drawn under the facility as of the closing.

Standard Register is a Dayton, Ohio-based provider of business documents and related services for the health care, financial services, commercial and industrial markets.

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