Consolidated Graphics

Consolidated Graphics Announces Amended and Extended Five Year, $285 Million Credit Facility

Consolidated Graphics, Inc. announced that it has amended its primary credit facility to, among other things, extend its maturity date until June 8, 2017, lower the interest rate on borrowings and add an accordion feature that, under certain conditions, can increase borrowings under the facility by $100 million to $385 million. Proceeds from borrowings can be used to repay indebtedness, finance acquisitions, provide for working capital and general corporate purposes and, subject to certain restrictions, fund the repurchase of common stock. As of June 7, 2012 borrowings under the credit facility were $111.2 million with interest accruing at a weighted average rate of 2.1%.

Joe R. Davis , Chairman and Chief Executive Officer of Consolidated Graphics, commented, "We appreciate the continued support of our bank group in providing a five year commitment."

Loading