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Courier 8-K 2008

Documents found in this filing:

  1. 8-K
  2. Ex-10
  3. Ex-10

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

 

Date of Report (Date of Earliest Event Reported): May 23, 2008

 

COURIER CORPORATION

(Exact name of registrant as specified in its charter)

 

Massachusetts

(State or other jurisdiction of incorporation or organization)

 

Commission File Number: 0-7597

 

IRS Employer Identification Number: 04-2502514

 

15 Wellman Avenue, North Chelmsford, MA

 

01863

(Address of principal executive offices)

 

(Zip Code)

 

(978) 251-6000

(Registrant’s telephone number, including area code)

 

No Change

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

Item 1.01.  Entry into a Material Definitive Agreement.

 

On May 23, 2008, Courier Corporation (the “Company”) entered into a Second Amended and Restated Revolving Credit Agreement (“Revolving Credit Agreement”) with RBS Citizens, KeyBank, Wells Fargo Bank, and J P Morgan Chase Bank.  The Revolving Credit Agreement continues to provide for a $100 million revolving credit facility and extends the maturity date from March 31, 2011 to March 31, 2013.  The Revolving Credit Agreement contains restrictive covenants including provisions relating to the maintenance of working capital, the incurring of additional indebtedness, and a quarterly test of EBITDA to debt service.  Under the Revolving Credit Agreement, the Company can borrow at an interest rate that ranges based upon the Company’s ratio of funded debt to EBITDA from LIBOR plus 0.5% to LIBOR plus 1.5%.  The Revolving Credit Agreement also provides for a commitment fee ranging from 0.175% to 0.375% per annum on the unused portion of the facility.  The facility is available to the Company for both its long-term and short-term financing needs.

 

The foregoing description is qualified in its entirety by reference to the full text of the Revolving Credit Agreement, filed as Exhibit 10 hereto and incorporated herein by reference.

 

Item 9.01.  Financial Statements and Exhibits.

 

(d) Exhibits.

 

10.         Second Amended and Restated Revolving Credit Agreement, dated May 23, 2008, between Courier Corporation, RBS Citizens, KeyBank, Wells Fargo Bank, and J P Morgan Chase Bank providing for a $100 million revolving credit facility.

 

[Remainder of page left blank intentionally]

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

COURIER CORPORATION

 

 

 

By:

/s/ Peter M. Folger

 

 

Peter M. Folger

 

 

Senior Vice President and

 

 

Chief Financial Officer

Date:  May 28, 2008

 

 

3



 

Exhibit Index

 

10.     Second Amended and Restated Revolving Credit Agreement, dated May 23, 2008, between Courier Corporation, RBS Citizens, KeyBank, Wells Fargo Bank, and J P Morgan Chase Bank providing for a $100 million revolving credit facility.

 

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