Nebraska Book Hldgs Inc (OTC:NEEB)

WEB NEWS

Tuesday, April 30, 2013

Deal Flow
Neebo Inc. (the “Company”), the holding company and beneficial owner of Nebraska Book Company Inc. and provider of solutions for the college bookstore marketplace, today announced it has made a voluntary payment of $27 million on its senior secured term loan and has obtained financing of up to $80 million to support its working capital needs.

“Our team members have done a tremendous job serving college students this year, improving our free cash flow to voluntarily pay down our debt and secure financing,” said Steve Clemente, President and Chief Executive Officer of Neebo Inc. “Our new working capital facility gives us ample flexibility at a competitive rate to continue our growth strategy and execute initiatives that serve college students even better.”

Since July 1, 2012, the Company has made almost $54 million in prepayment to its term loan. These payments have permanently reduced a material portion of the Company’s debt and continue to improve its financial position since emerging from bankruptcy in June 2012.



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