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Bowne & Co. Inc. Amends And Extends Its Revolving Credit Facility     20-Oct-09 04:57 pm    
I guess, tis time divident will be "Cash"................

Bowne & Co. Inc. Amends And Extends Its Revolving Credit Facility
8:28am EDT
Bowne & Co. Inc. announced that it has received commitments from its bank group to amend its credit facility and extend its maturity through May 2013. J.P. Morgan Securities, Inc. and Banc of America Securities LLC were Joint Lead Arrangers for the Facility. Additionally, under the terms of the amended facility, the minimum fixed charge coverage ratio will be 1.0x at all times, and the Company will be afforded increased flexibility related to cash dividends and acquisitions. As with the existing facility, the $123.0 million Revolving Credit Facility (Revolver) will have an interest rate of LIBOR plus 4.00% in the case of Eurodollar loans, or a base rate plus 3.00% in the case of Base Rate loans, and borrowings will be subject to certain levels of receivables and inventories.


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Bowne & Co. Inc. (BNE)

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