OfficeMax gets $500 million revolver

By Sara Rosenberg

New York, June 30 - OfficeMax Inc. closed on a new $500 million revolving credit facility that contains a $100 million accordion feature, according to an 8-K filed with the Securities and Exchange Commission Thursday. Wachovia Capital Finance Corp. is the agent on the deal.

The revolver has an initial interest rate of Libor plus 125 basis points, but pricing can step up to Libor plus 150 basis points or step down to Libor plus 100 basis points, depending on excess availability.

The new deal, which closed on June 24, replaces the company's existing revolver that expired Thursday.

OfficeMax is an Itasca, Ill.-based provider of office supplies, technology products and solutions, and furniture to businesses and consumers.

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