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Mail-Well Extends Senior Credit Facility to 2008

Thursday, April 01, 2004

Press release from the issuing company

ENGLEWOOD, Colo., March 31 -- Mail-Well, Inc. announced today that it has entered into a Second Amended and Restated Credit Agreement with a group of lenders, which extends the term of its $300 million senior secured revolving credit facility to June of 2008, and provides additional flexibility to the company. The new agreement, which went into effect March 25, 2004, modified, relaxed or eliminated a number of financial covenants and requirements, reflecting the continued improvement in the company's credit profile. Bank of America, N.A. continues as administrative agent for the facility. "We appreciate the excellent relationship we have had with the lenders to this facility and feel that the facility's renewal will provide a platform for financial flexibility and continued growth and will support our strategic plans to strengthen our place in the visual communications industry," said Michel Salbaing, Mail-Well's Senior Vice President and Chief Financial Officer. The facility, which originally went into effect in June 2002, utilizes a borrowing base consisting of accounts receivable, inventory and equipment to determine availability at any given time.

 

 

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