United Stationers Inc. announced it has closed an amendment and extension of its $700 million revolving credit facility with a syndicate of financial institutions. This amendment extends the expiration date of the facility to July 6, 2018.
The revolving credit facility will be used for strategic growth initiatives, working capital and other general corporate purposes. All twelve of the financial institutions in the prior revolving credit facility participated in the extension, with J.P. Morgan Securities LLC, U.S. Bank N.A. and Wells Fargo Securities, LLC serving as joint lead arrangers.
"We are very pleased to have such a strong showing of support from our banks and to be able to extend this important source of committed financing through 2018," said Fareed Khan, senior vice president and chief financial officer.
United Stationers Inc. is a leading wholesale distributor of business products, with 2012 net sales of $5.1 billion.