Courier amends credit agreement to extend revolver to December 2019

By Jennifer Chiou

New York, Dec. 23 – Courier Corp. entered into an amendment to its revolving credit agreement with Citizens Bank, NA as administrative agent, extending the maturity date of the current $100 million revolving credit facility to Dec. 17, 2019 from March 31, 2015, according to an 8-K filing with the Securities and Exchange Commission.

The syndicate includes KeyBank NA, JPMorgan Chase Bank, NA and TD Bank, NA.

The filing added that the company can borrow at Libor plus 125 bps to 225 bps, depending on its ratio of funded debt to EBITDA.

The commitment fee ranges from 17.5 bps to 37.5 bps per year.

Based in North Chelmsford, Mass., Courier publishes, prints and sells books.

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