Cenveo Executes Term Loan Financing and Amends Credit Agreement

Cenveo, Inc. CVO announced today that its wholly-owned subsidiary, Cenveo Corporation, has executed an agreement that provides for $65 million aggregate principal amount of an additional Term Loan (the "Loan") under its senior secured credit agreement (the "Credit Agreement"). The Loan is identical to the existing term loan under the Credit Agreement and is expected to close this week. Simultaneously, Cenveo Corporation executed an amendment (the "Amendment") to the Credit Agreement, which also is expected to close this week, to allow the company to repurchase up to $135 million of its senior subordinated notes due December 2013 (the "Subordinated Notes"), subject to maintaining certain liquidity thresholds and other customary conditions. The Amendment also delays a step down in the maximum first lien leverage ratio covenant to 2.25x from 2.50x until the first quarter of 2013. Proceeds from the Loan will initially be used to repay outstanding revolving credit borrowings and to pay fees and expenses, which will free up capacity under the revolving credit facility to refinance the Subordinated Notes. This Amendment plus previous amendments to the Credit Agreement will allow for all of the Subordinated Notes to be refinanced.