Standard Register gets new $100 million revolver

By Sara Rosenberg

New York, May 10 - The Standard Register Co. closed on a new $100 million five-year senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

Banc of America Securities LLC and KeyBank were joint lead arrangers on the deal, with Bank of America as the administrative agent.

Lenders also include JPMorgan Chase Bank, National City Business Credit Inc., U.S. Bank, The Bank of New York and Fifth Third Bank.

Borrowings carry an interest rate of Libor plus 150 basis points, and there is a 37.5 basis point commitment fee.

Security is accounts receivable and inventories.

The revolver, which closed on Monday, replaces the company's previous $150 million unsecured revolving credit facility that was due to expire on May 11. At close there was $40 million outstanding under the existing revolver. This balance was transferred to the new deal.

Standard Register is a Dayton, Ohio-based provider of information solutions for the healthcare, financial services, insurance, pharmaceutical, manufacturing and transportation industries.

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