Merrill Announces $200 million Financing, Strong May Results
Press release from the issuing company
ST. PAUL, Minn., July 9 -- Merrill Corporation, a global, diversified communications and document services provider, today announced the appointment of Credit Suisse First Boston and Bank of America as lead arrangers of a $200 million credit facility. The facility will be comprised of a $50 million revolving credit facility and $150 million term loan facilities. The proceeds will be used to refinance existing debt and for working capital and general corporate purposes.
In separate news, Merrill announced a continuation of the strong financial results recorded in its first fiscal quarter, ended April 30, 2004. During May 2004, revenues of $65.6 million represented a 12 percent increase over $58.7 million in May 2003. May 2004 EBITDA of $11.4 million increased by 81 percent over $6.3 million in May 2003.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.