Vistaprint Parent Cimpress Increases Credit Facility by $500M
VENLO, the Netherlands - January 7, 2019 - Cimpress N.V. announced today that it has signed an amendment expanding its existing credit facility by an additional $500 million. The increase brings the total amount of the credit facility to $1,613 million, consisting of $526 million of outstanding term loans and a $1,087 million revolver. The terms and covenants of the credit facility remain unchanged. The company is expanding the credit facility to further strengthen its financial flexibility as it continues to execute on its strategy and capital allocation opportunities.
Sean Quinn, Cimpress’ executive vice president and CFO, said, “We are very pleased with the participation and interest in upsizing our credit facility and appreciate the continued support from our banking group. While this expansion is not for a specific use, we do expect to continue to grow our revenue and EBITDA in the future, and we value having the balance sheet flexibility and capacity to act on attractive capital allocation opportunities when they arise.”
The funding increase was provided by both existing members of the bank group who expanded their share of the credit facility, as well as new banks who were not involved in the initial facility.
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of Printing Impressions.