DEERFIELD, Ill., July 9, 2013 /PRNewswire/ -- United Stationers Inc. (NASDAQ: USTR), a leading wholesale distributor of business products, announced today that 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.
Company OverviewUnited Stationers Inc. is a leading wholesale distributor of business products, with 2012 net sales of $5.1 billion. The company stocks a broad and deep line of approximately 130,000 items on a national basis, including technology products, traditional office products, janitorial and breakroom supplies, office furniture, and industrial supplies. A network currently comprised of 64 distribution centers allows it to deliver these products to over 25,000 reseller customers. This network, combined with United's depth and breadth of inventory, enables the company to ship most products overnight to more than 90% of the U.S. and offer next-day delivery to major cities in Mexico and Canada. For more information, visit www.unitedstationers.com. United Stationers' common stock trades on the NASDAQ Global Select Market under the symbol USTR.