United Stationers enters new financing deal

Deerfield-based United Stationers Inc. announced that it reached a new $150 million securitization agreement with a group of lenders that will replace its prior $250 million financing deal due to expire March 20.

Combined with its other funding sources, the new facility provides the company with in excess of $900 million of committed debt capacity. The company's other funding sources consist of a $625 million bank credit facility, which expires July 2012, $135 million in senior notes and a $6.8 million industrial revenue bond.

"United Stationers continues to have access to attractive funding sources, and we are pleased to have completed this new securitization facility," said Victoria J. Reich, senior vice president and chief financial officer.

United Stationers Inc. is a large broad line wholesale distributor of business products, with net sales for 2008 of $5 billion. The company stocks over 100,000 items, including technology products, traditional office products, janitorial and break room supplies, office furniture, and industrial supplies.