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Staples, Inc. successfully completes refinancing

June 17, 2024

With the debt refinancing, Staples has been able to reduce outstanding debt and extended maturities to over five years.

Staples, Inc. announced it has successfully completed a comprehensive debt refinancing, resulting in a reduction of the Company’s outstanding debt and an extension of its maturities to over five years.

Staples said in its announcement: “These actions have positioned Staples to further extend its leadership position as the country’s leading distributor of workspace products and logistics services.”

In recent years Staples demonstrated strong financial performance by:

  • Revenue growth of 1-2% annually over the last decade;
  • Three consecutive years of double-digit EBITDA growth; and
  • Highly efficient distribution and logistics capabilities, delivering to 98% of the country next day

Staples Executive Chairman and CEO John Lederer noted, “Staples has long been the leader in workspace products and solutions, delivering relentless innovation to our customers through our human touch and expert know-how, differentiated digital solutions, and a highly efficient supply chain. This commitment to serving our customers has generated industry-leading revenue and EBITDA growth over the last several years.”

“We are pleased with the successful outcome of our debt refinancing, which enhances our ability to execute over the long-term while solidifying the financial foundation of the Company,” said Staples CFO Jeff Hall. “The actions taken are a testament to our strong business and continued outperformance, validating the confidence we have in our strategy and the support for Staples in multiple capital markets.”

Categories : City News

Tags : Business Debt Financials Refinancing Staples Inc.

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