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News Nebraska Book Company Gains Approval to Increase Credit Agreement Lincoln, NE Nebraska Book Company, Inc., (the "Company"), announced the approval of a $20 million increase to its Revolving Credit Facility (the "Revolver") under its current Senior Credit Facility and an amendment to certain definitions under the Senior Credit Facility. This additional $20 million will bring the maximum Revolver capacity to $85 million. The Company sought to increase the maximum borrowing under its Revolver in order to provide the means to pursue additional opportunities to expand its contract managed and private college bookstore business and to enhance its working capital flexibility generally. The Company has historically used the Revolver to fund peak working capital requirements of its business, including additional working capital investments for its expanding chain of retail college bookstores across the country. The Company did not identify any specific bookstore opportunities in connection with the increase. The Company also gained approval to amend certain definitions in its Senior Credit Facility in order to exclude certain one-time or non-recurring costs, including those incurred in connection with the closure of its California warehouse and the integration of the College Bookstores of America, Inc. into the Company’s operations, from the computation of Consolidated EBITDA. |
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