Cimpress preps cleanup of costly Apollo crisis debt

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By Owen Sanderson
15 Apr 2021

Cimpress has launched a cross-border term loan ‘B’, aiming to raise more first lien debt at tight levels to allow it to clean up its costly 12% second lien facility raised from Apollo last April.

The company, which prints business cards, leaflets and marketing documents for small businesses and consumers, was hit hard at first by the pandemic, as businesses clamped down on marketing spend. Its share price plunged from a high of $123 on February 23 to $44 by April 3.

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