Staples to prepay, terminate term loan credit agreement via Barclays

By Tali Rackner

Norfolk, Va., May 11 – Staples Inc. plans to prepay all outstanding amounts under its term loan credit agreement via Barclays and terminate the agreement, according to an 8-K filing with the Securities and Exchange Commission.

The action is in connection with the planned dissolution of company’s agreement to acquire Office Depot, Inc.

Staples will also terminate its amended and restated debt commitment letter for an up to $3 billion asset-based revolving credit facility.

Staples is a Framingham, Mass.-based retailer of office supplies. Office Depot is a Boca Raton, Fla.-based provider of products, services and solutions for the workplace.

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