More on Staples refinancing

Morgan Stanley is leading efforts to sell a $1.8 billion leveraged loan for Staples Inc, according to a new article published by Bloomberg.

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Morgan Stanley is leading efforts to sell a $1.8 billion leveraged loan for Staples Inc, according to a new article published by Bloomberg.

Staples’ financial situation has been in the news recently, with reports the reseller was sitting on a debt pile of $6 billion. However, Bloomberg is now saying the company’s total debt is nearer $7.5 billion.

On recent earnings conference calls, rival The ODP Corporation (ODP) has said its strong balance sheet has helped it secure new business. It did not refer to Staples specifically but, reading between the lines, press reports about whether Staples has the ability to pay down its debt and/or cover interest payments are clearly not doing ODP any harm.

Framingham (MA), USA