Depot agrees credit facility

0

 

1 June 2007 — New York (NY): Office Depot has agreed to a revolving credit facility worth up to $1 billion, according to a regulatory filing.

 

According to a filing with the Securities and Exchange Commission, the agreement is with a consortium of banks, including Citigroup Global Markets, Wachovia Capital Markets and BNP Paribas Securities Corp, among others.

 

The facility provides up to $1 billion of multiple-currency borrowing, which could be increased to $1.25 billion, with a maturity date of 25 May, 2012.

 

Following the news, shares at the retailer rose $1.32, or 3.8 percent, to $36.34.