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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.