Vistaprint parent Cimpress increases credit facility by $500 million

GaryPageau ,

VENLO, the Netherlands – January 7, 2019 – Cimpress N.V. announced today that it has signed an amendment expanding its existing credit facility by an additional $500 million. The increase brings the total amount of the credit facility to $1,613 million, consisting of $526 million of outstanding term loans and a $1,087 million revolver. The terms and covenants of the credit facility remain unchanged. The company is expanding the credit facility to further strengthen its financial flexibility as it continues to execute on its strategy and capital allocation opportunities.

Sean Quinn, CFO, Cimpress

Sean Quinn, Cimpress’ executive vice president and CFO, said, “We are very pleased with the participation and interest in upsizing our credit facility and appreciate the continued support from our banking group. While this expansion is not for a specific use, we do expect to continue to grow our revenue and EBITDA in the future, and we value having the balance sheet flexibility and capacity to act on attractive capital allocation opportunities when they arise.”

The funding increase was provided by both existing members of the bank group who expanded their share of the credit facility, as well as new banks who were not involved in the initial facility.

About Cimpress

Cimpress N.V. (Nasdaq: CMPR) invests in and builds customer-focused, entrepreneurial, mass-customization businesses for the long term. Mass customization is a competitive strategy that seeks to produce goods and services to meet individual customer needs with near mass production efficiency. Cimpress businesses include BuildASign, Drukwerkdeal, Exaprint, National Pen, Pixartprinting, Printi, Vistaprint and WIRmachenDRUCK. To learn more, visit http://www.cimpress.com.

Cimpress and the Cimpress logo are trademarks of Cimpress N.V. or its subsidiaries. All other brand and product names appearing on this announcement may be trademarks or registered trademarks of their respective holders.

Written by 

Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.