Kelly Paper Company and Spicers Paper, Inc. are U.S.-based subsidiaries of PaperlinX North America, Inc., which is a wholly owned sub of PaperlinX Limited, a publicly traded company in Australia with operations on 5 continents. Headquartered in Santa Fe Springs, California, Kelly Paper is a focused network of paper and graphics store operations serving the small to midsize printers in the western region of the United States. Spicers Paper is a dedicated fine paper merchant in nearly all major markets west of the Rockies and in selected markets in the Midwest.
PaperlinX Limited requested that some of its subsidiaries seek their own financing. In turn, Kelly Paper and Spicers Paper were looking for a lender to refinance existing debt and provide for ongoing working capital. Bank of America Business Capital structured a transaction with the financial flexibility to meet the client’s needs.
The $40 million asset-based credit facility is being used to refinance existing debt and provide for working capital needs. Bank of America is also providing treasury management products and services.
