Cadmus Completes Amendments to Bank Revolving Credit Agreement
Press release from the issuing company
RICHMOND, Va., July 11 Cadmus Communications Corporation today announced that it has successfully completed amendments to its senior revolving credit agreement. The secured facility, which matures on March 31, 2004, currently provides for borrowings up to $78 million.
Bruce V. Thomas, president and chief executive officer, noted, "We are pleased that the amended credit facility received unanimous support from our original syndicate of seven banks, without an increase in the underlying interest rate spreads or a change in the overall size of the facility. With only $49 million in outstanding borrowings under this facility at June 30, 2001, we believe that the amended agreement provides the capital and financial flexibility necessary to execute our strategic growth plan.''
Cadmus Communications Corporation is a specialized content management company that also offers end-to-end, integrated graphic communications services to professional publishers, not-for-profit societies and corporations. Cadmus is the largest provider of content management and production services to scientific, technical and medical journal publishers in the world, the fourth largest publications printer in North America, and a leading national provider of specialty packaging products and services. Additional information about Cadmus is available at http://www.cadmus.com .
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