PLANO, Texas, Jan. 17, 2012 /CNW/ - Safety-Kleen Systems, Inc., today announced that it has initiated a process to refinance its current credit facilities, including its revolver which matures in August 2012, with the goal of negotiating new loans and lines of credit by mid-February 2012.
"The new credit facilities will extend the current maturity and will be similar to the company's existing agreement," said Chief Financial Officer Jeff Richard. "Further details will be announced once the transaction is complete."
Richard said Safety-Kleen is seeking the re-financing package in order to "continue to provide adequate liquidity for working capital and to take advantage of growth opportunities."
Safety-Kleen is a leading North American used oil recycling and re-refining, parts cleaning and environmental solutions company, with approximately 4,300 employees serving more than 270,000 customer locations in the United States, Canada and Puerto Rico. Safety-Kleen provides a broad set of environmentally-responsible products and services that keep North American businesses in balance with the environment. For more information, please visit safety-kleen.com or call (800) 669-5740.
SOURCE Safety-Kleen Systems, Inc.
For further information:
Paul Lee, +1-972-265-2420