Quad/Graphics Completes Ninth Amendment to Bank Debt Agreement

SUSSEX, Wis., Oct. 21, 2024 /PRNewswire/ —

Quad/Graphics, Inc. (NYSE: QUAD), a global marketing experience company, announced today that it has completed the ninth amendment to the company’s bank debt agreement. This amendment includes various changes to the existing revolving credit facility and term loan facility, as well as adjustments to pricing and covenants.

Key Changes in the Amendment:

The aggregate amount of the existing revolving credit facility has been reduced from $342.5 million to $324.6 million. Additionally, the maturity of a portion of the revolving credit facility has been extended, with $17.7 million due on the existing maturity date of November 2, 2026, and $306.9 million due on October 17, 2029.

The maturity of a portion of the existing term loan facility has also been extended, with $14.5 million due on the existing maturity date and $351.3 million due on the extended maturity date. Pricing adjustments include an increase of .50% to the interest rate margin applicable to the loans maturing on the extended maturity date. Certain financial and operational covenants have been modified as well.

This amendment marks a significant development for Quad/Graphics as it navigates the evolving landscape of the marketing industry. By restructuring its debt agreements, the company aims to enhance its financial flexibility and strengthen its position in the market.

Impact on Individuals:

As a consumer or employee of Quad/Graphics, the completion of this amendment may have implications for you. It could potentially lead to changes in the company’s operations, strategies, or financial performance, which may impact your interactions with the organization.

Global Implications:

In the broader context of the global market, Quad/Graphics’ debt agreement amendment could signal shifts in the marketing and printing industries. The company’s actions may influence trends, competition, and opportunities in the sector, ultimately shaping the landscape for businesses worldwide.

Conclusion:

Quad/Graphics’ completion of the ninth amendment to its bank debt agreement reflects a strategic move to adapt to changing market conditions and enhance its financial standing. The company’s efforts to streamline its debt structure and adjust key financial terms will likely have ripple effects on both individuals and the global business community, underscoring the interconnected nature of the modern economy.