Nebraska Book Company, Inc. Announces Improved Financial Position Through Debt Reduction
Nebraska Book Company, Inc. (the “Company”), an industry leader in solutions for the college bookstore marketplace, today announced positive financial news. The Company has permanently reduced a material portion of its debt and continues to improve its financial position since emerging from bankruptcy in June 2012.
The Company recently made a $25.0 million voluntary prepayment on its senior secured term loan, permanently reducing the outstanding principal amount under this facility. In addition, the Company has repaid the full $31.8 million balance on its Bridge loan. The Company retains significant availability under this facility. Alexi Wellman, the Company’s CFO, explains “We fully intend to capitalize on this momentum and continue paying down debt with free cash flow and net working capital improvement. This demonstrates our commitment to disciplined capital management.”
Nebraska Book Company emerged from its reorganization with a lighter debt load and a renewed focus on growth and opportunities to increase the Company’s earnings power. “Our company has achieved yet another milestone in strengthening our balance sheet. This remains one of the key priorities for the Nebraska Book Company,” explains Steve Clemente, the Company’s President and CEO.
Nebraska Book Company, Inc. is fully owned by Neebo, Inc. Additional financial information can be found at www.nebook.com
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