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September 01, 2020 1:26pm
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Staples, Inc. Successfully Completes Refinancing; Reduces Outstanding Debt and Extends Maturities to Over Five Years

Positions Staples to Further Extend Leadership Position as the Country’s Leading Distributor of Workspace Products and Logistics Services.

Staples, Inc. today 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. These actions have positioned Staples to further extend its leadership position as the country’s leading distributor of workspace products and logistics services.

This successful refinancing was driven by Staples’ strong financial performance and operational execution in recent years, as demonstrated 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.”

About Staples

For over 35 years, Staples has been a leader in workspace products and solutions and has thousands of experts who, paired with the latest technology innovations, help solve problems and move businesses forward. These experts make work easier, smarter, and more efficient for businesses of all sizes. The company operates in North America through eCommerce and direct sales and is headquartered near Boston, Massachusetts.


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