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News Nebraska Book Company Obtains Approval for Revised Credit Agreement Lincoln, NE, January 30, 2009 -- Nebraska Book Company, Inc., a Kansas corporation (the "Company"), announced that it has received required lender approval for amendments to its current Senior Credit Facility. The Company indicated that it expects to close on the amendments within days. The amendments, as previously announced by the Company in early January, include an extension of the term of its Revolving Credit Facility (the "Revolver") until May 31, 2010 and changes in certain financial ratios and definitions under the Senior Credit Facility. The Company indicated that in connection with the closing of the extension and amendments, its majority equity holder, Weston Presidio will invest $10 million into the Company. Mark Oppegard, the Company's CEO, said, "We are gratified that, even in arguably the most difficult financing environment in many, many years, we are able to access the capital needed to help us continue to grow our business. We think that is a testament to the durability of our business model and the dedication of our workforce." The Company also announced that it expects to report a low-single-digit percentage increase in total company consolidated revenue when it releases full results for its quarter ended December 31, 2008 in mid-February. |
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