Sterling Publishing Co., Inc. publishes books. It publishes textbooks, eBooks, and cookbooks; books in various categories, including educational resources, children non-fiction books, children’s picture books, puzzles and games, children/adult fiction books, craft and photography, self-help, and classics; and adult non-fiction books in various subject areas, including current events, diet and health, parenting, popular culture, reference, history, art and artists, music, and more. The company also publishes joke books and novelty formats, as well as books for babies and toddlers; and workbooks and flash cards for preschool, elementary, and middle school students in various curriculum areas, ...
1166 Avenue of the Americas
New York, NY 10036
Founded in 1949
Barnes & Noble, Inc., Barnes & Noble Booksellers, Inc., Barnes & Noble International LLC, Barnes & Noble Marketing Services LLC Barnes & Noble Purchasing, Inc., Barnes & Noble Services, Inc., Nook Digital, LLC and Sterling Publishing Co., Inc. Enter into First Amendment to the Credit Agreement
Oct 6 16
On September 30, 2016, Barnes & Noble, Inc. and certain of its subsidiaries Barnes & Noble Booksellers, Inc., Barnes & Noble International LLC, Barnes & Noble Marketing Services LLC Barnes & Noble Purchasing, Inc., Barnes & Noble Services, Inc., Nook Digital, LLC and Sterling Publishing Co., Inc. entered into a first amendment to the credit agreement, dated as of August 3, 2015 with Bank of America, N.A., as administrative agent, collateral agent and swing line lender, and the other lenders from time to time party thereto. The First Amendment, among other things, provides the Borrowers with a new first-in, last-out revolving credit facility in an aggregate principal amount of up to $50.0 million, subject to borrowing base restrictions specific thereto, which supplements the up to $700.0 million revolving credit facility that was available to the Borrowers under the Credit Agreement prior to the effectiveness of the First Amendment, and allows the company to declare and pay up to $70.0 million in dividends annually to its stockholders without compliance with any availability or ratio-based limitations. Following the effectiveness of the First Amendment, the company maintains its ability to request up to $250 million in commitment increases from the lenders under the Credit Agreement, subject to certain restrictions. Interest on the FILO Facility accrues, at the election of the company, at a LIBOR or alternate base rate, plus, in each case, an applicable interest rate margin, which is determined by reference to the level of excess availability under the Revolving Facility. Loans under the FILO Facility will bear interest at 1.00% per annum more than loans under the Revolving Facility. The Borrowers generally must draw down the FILO Facility before making any borrowings under the Revolving Facility.