-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Sk6EF43+QlqQj22TxkjoxWWHwG1Ut/JkZEL/Gl9hfnpzCIQoIZfjZgVb2nB0ob6S FiaGfbA3ejxF5WE3d0JFyA== 0000906318-10-000043.txt : 20100401 0000906318-10-000043.hdr.sgml : 20100401 20100401094522 ACCESSION NUMBER: 0000906318-10-000043 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100401 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20100401 DATE AS OF CHANGE: 20100401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STANDARD REGISTER CO CENTRAL INDEX KEY: 0000093456 STANDARD INDUSTRIAL CLASSIFICATION: MANIFOLD BUSINESS FORMS [2761] IRS NUMBER: 310455440 STATE OF INCORPORATION: OH FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11699 FILM NUMBER: 10721921 BUSINESS ADDRESS: STREET 1: 600 ALBANY ST CITY: DAYTON STATE: OH ZIP: 45401 BUSINESS PHONE: 5134341000 MAIL ADDRESS: STREET 1: 600 ALBANY STREET STREET 2: P O BOX 1167 CITY: DAYTON STATE: OH ZIP: 45401-1167 8-K 1 sr8k4110.htm FORM 8-K Converted by EDGARwiz

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:  April 1, 2010

(Date of earliest event reported)




THE STANDARD REGISTER COMPANY

(Exact name of Registrant as specified in its Charter)





Ohio

(State or other jurisdiction of incorporation)

1-1097

(Commission File No.)

31-0455440

(IRS Employer Identification Number)




600 Albany Street, Dayton, Ohio  

45417

(Address of principal executive offices)

(Zip Code)




Registrant’s telephone number, including area code: (937) 221-1000



N/A

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



Item 1.01  Entry into a Material Definitive Agreement


On March 31, 2010, The Standard Register Company (the “Company”), and certain of its wholly-owned subsidiaries, entered into a $100 million, four-year senior secured revolving credit facility with Bank of America, N.A. and certain other lenders (the “Credit Facility”).  Bank of America, N.A. is the Administrative Agent for the Credit Facility.  In addition to Bank of America, N.A., the other lenders under the Credit Facility are J.P. Morgan Chase Bank, N.A., KeyBank National Association, PNC Bank National Association and Wachovia Capital Finance Corporation (New England).  The Credit Facility replaces the Company’s existing $100 million senior secured credit facility that was due to expire in May, 2010.


The Credit Facility is secured by substantially all the personal property of the Company as described in the loan and security agreement.  In addition, if the sum of excess availability under the Credit Facility and certain cash balances falls below the greater of 20% of the aggregate commitments under the Credit Facility or $15,000,000, certain other assets of the Company, including equipment and real property, will automatically become collateral security for the Credit Facility.  The Credit Facility contains a fixed charge coverage covenant test that becomes applicable if the sum of excess availability under the Credit Facility and certain cash balances falls below the greater of 15% of the aggregate commitments under the Credit Facility or $11,250,000.


Interest on loans outstanding under the Credit Facility accrues at a rate equal to LIBOR plus 3.00% to 3.50% depending on the Company’s level of liquidity (as defined in the loan and security agreement), or at a rate equal to a base or prime rate plus 2.00% to 2.50% depending on the Company’s level of liquidity, as selected by the Company.  The Company is also required to pay a fee on the unused portion of the Credit Facility of either .50% or .75% depending on the level of unused aggregate commitment on the first day of each fiscal quarter.


A total of $34 million was drawn under the facility as of the closing.


Some of the lenders under the Credit Facility have various relationships with the Company involving the provision of financial services.  In addition, the Company sells products and services to some of the lenders under the Credit Facility.


A copy of the loan and security agreement will be filed with the Company’s next Quarterly Report on Form 10-Q.






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.



REGISTRANT

THE STANDARD REGISTER COMPANY

  
  

Date:  April 1, 2010

By:   /s/Robert M. Ginnan                        

 

Robert M. Ginnan, Vice President,

Treasurer and Chief Financial Officer

  
  
  





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