Cenveo Completes Refinancing of Credit Facilities

              Cenveo Completes Refinancing of Credit Facilities

PR Newswire

STAMFORD, Conn., April 16, 2013

STAMFORD, Conn., April 16, 2013 /PRNewswire/ -- Cenveo, Inc. (NYSE:CVO) today
announced that its subsidiary, Cenveo Corporation ("Cenveo"), has completed
the refinancing of its existing senior secured Term B Loan and Revolving
Credit Facility with an amended and restated $360 million Term B Loan
facility, through Bank of America, N.A. as administrative agent, and joint
lead arrangers Bank of America, N.A., Macquarie Capital (USA) Inc. and
Barclays Bank PLC, along with a new $200 million asset based loan ("ABL")
Credit Agreement with Bank of America, N.A., as administrative agent, and Bank
of America, N.A., Wells Fargo Bank, National Association, Barclays Bank PLC
and General Electric Capital Corporation as joint lead arrangers.

(Logo: http://photos.prnewswire.com/prnh/20070618/CENVEOLOGO)

The new credit facilities will provide significant benefits for the company
including:

  oReducing the Term B Loan all-in interest rate from 7.00% to 6.25%;
  oLowering the cost of borrowing on our revolver from 7.00% to approximately
    2.20% based on current one month LIBOR rates and the initial interest rate
    spread;
  oProviding increased financial flexibility with updated covenants;
  oSubject to the satisfaction of certain requirements relating to the
    refinancing of Cenveo's existing senior unsecured notes and senior second
    lien notes, extending the Term B Loan maturity from December 21, 2016 to
    April 16, 2020 and extending Cenveo's revolving credit facility maturity
    from December 21, 2014 to April 16, 2018.

Robert G. Burton, Sr., Chairman and Chief Executive Officer stated:
"We were pleased to be able to take advantage of the strong credit markets to
refinance our next two maturities. This refinancing lowers cashinterest
expense on our indebtedness by over $8 million on an annual basis. The
favorable terms are a reflection of improved markets and Cenveo's recent
performance. We want to thank our lenders for their continued support and we
can now devote our efforts to executing on our strategy, including evaluating
our strategic alternatives as our next maturity is four years away."

Cenveo (NYSE: CVO), headquartered in Stamford, Connecticut, is a leading
global provider of print and related resources, offering world-class solutions
in the areas of custom labels, specialty packaging, envelopes, commercial
print, content management and publisher solutions. The company provides a
one-stop offering through services ranging from design and content management
to fulfillment and distribution. With a worldwide distribution platform, we
pride ourselves on delivering quality solutions and service every day for our
more than 100,000 customers. For more information please visit us at
www.cenveo.com.

Statements made in this release, other than those concerning historical
financial information, may be considered "forward-looking statements," which
are based upon current expectations and involve a number of assumptions, risks
and uncertainties that could cause actual results to differ materially from
such forward-looking statements. In view of such uncertainties, investors
should not place undue reliance on our forward-looking statements. Such
statements speak only as of the date of this release, and we undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. Factors
that could cause actual results to differ materially from management's
expectations include, without limitation: (i) the recent United States and
global economic conditions, which have adversely affected us and could
continue to do so; (ii) our substantial level of indebtedness, which could
impair our financial condition and prevent us from fulfilling our business
obligations; (iii) our ability to service or refinance our debt; (iv) the
terms of our indebtedness imposing significant restrictions on our operating
and financial flexibility; (v) additional borrowings that are available to us
could further exacerbate our risk exposure from debt; (vi) our ability to
successfully integrate acquired businesses into our business; (vii) a decline
of our consolidated profitability or profitability within one of our
individual reporting units could result in the impairment of our assets,
including goodwill, other long-lived assets and deferred tax assets; (viii)
intense competition and fragmentation in our industry; (ix) the general
absence of long-term customer agreements in our industry, subjecting our
business to quarterly and cyclical fluctuations; (x) factors affecting the
United States postal services impacting demand for our products; (xi) the
availability of the internet and other electronic media may adversely affect
our business; (xii) increases in paper costs and decreases in the availability
of raw materials; (xiii) our labor relations; (xiv) our compliance with
environmental laws; (xv) our dependence on key management personnel; (xvi) our
dependence upon information technology systems; and (xvii) our international
operations and the risks associated with operating outside of the United
States. This list of factors is not exhaustive, and new factors may emerge or
changes to the foregoing factors may occur that would impact our business.
Additional information regarding these and other factors can be found in
Cenveo, Inc.'s periodic filings with the SEC, which are available at
www.cenveo.com.

Inquiries from analysts and investors should be directed to Robert G. Burton,
Jr. at (203) 595-3005.

SOURCE Cenveo, Inc.

Website: http://www.cenveo.com
 
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