Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Standard Register Co. > News item |
Standard Register amends loan terms via Silver Point, explores options
By Susanna Moon
Chicago, Jan. 22 – Standard Register Co. amended its credit agreement on Wednesday with Silver Point Finance, LLC as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.
Under the amended terms, the lenders agreed to extend the test for compliance with each of the maximum total leverage ratio, the minimum fixed-charge coverage ratio and the minimum EBITDAP financial covenants under each of the credit agreements for the fiscal quarter ended Dec. 31 until Feb. 27, 2015 and have limited the company’s reinvestment rights for the proceeds of collateral dispositions.
Standard Register also said that, “given the company’s financial performance, debt service requirements, pension obligations and other expenses, the company is focused on negotiating with its lenders and is exploring all of its options.”
The company has hired Lazard Freres & Co. LLC, Gibson, Dunn & Crutcher LLP and McKinsey Recovery & Transformation Services U.S., LLC to help explore its options.
Standard Register is a Dayton, Ohio-based provider of business documents and related services for the health-care, financial services, commercial and industrial markets.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.