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Mail-Well Extends Senior Credit Facility to 2008
ENGLEWOOD, Colo., March 31 /PRNewswire-FirstCall/ -- Mail-Well, Inc. announced
today that it has entered into a Second Amended and Restated Credit Agreement
with a group of lenders, which extends the term of its $300 million senior
secured revolving credit facility to June of 2008, and provides additional
flexibility to the company. The new agreement, which went into effect March 25,
2004, modified, relaxed or eliminated a number of financial covenants and
requirements, reflecting the continued improvement in the company's credit
profile. Bank of America, N.A. continues as administrative agent for the
facility.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990429/MAILWELLLOGO )
"We appreciate the excellent relationship we have had with the lenders to this
facility and feel that the facility's renewal will provide a platform for
financial flexibility and continued growth and will support our strategic plans
to strengthen our place in the visual communications industry," said Michel
Salbaing, Mail-Well's Senior Vice President and Chief Financial Officer.
The facility, which originally went into effect in June 2002, utilizes a
borrowing base consisting of accounts receivable, inventory and equipment to
determine availability at any given time.
Mail-Well (NYSE:MWL), http://www.mail-well.com/, is one of North America's
leading providers of visual communications with one-stop services from design
through fulfillment. The company's broad portfolio of services and products
include e-services, envelopes, offset and digital printing, as well as printed
office products. The company is uniquely positioned by serving both direct
customers through their commercial segment and wholesalers and value-added
resellers through its resale segment. Mail-Well currently has approximately
10,000 employees and more than 80 printing and envelope locations plus five
advanced fulfillment and distribution centers throughout North America. In
early 2004, Mail-Well was voted second place in the printing and publishing
category as Fortune Magazine's Most Admired Companies and ranked number five of
the Russell 3000 companies on Corporate Governance Quotients by Institutional
Shareholder Services. The company is headquartered in Englewood, Colorado.
CONTACT: Mr. Michel P. Salbaing
Senior Vice President and Chief Financial Officer
Mail-Well, Inc.
(303) 790-8023
NOTE: News Releases and otherinformation on Mail-Well can be accessed at
http://www.mail-well.com/
http://www.newscom.com/cgi-bin/prnh/19990429/MAILWELLLOGO
http://photoarchive.ap.org/
DATASOURCE: Mail-Well, Inc.
CONTACT: Mr. Michel P. Salbaing, Senior Vice President and Chief
Financial Officer of Mail-Well, Inc., +1-303-790-8023
Web site: http://www.mail-well.com/