Safety-Kleen refinances.Safety-Kleen Safety-Kleen Systems, Inc. is the leading provider of cleaning, environmental and re-refining solutions. Their EMS (Environmental Management System) is compliant with the ISO 14001 Standards of Excellence and their oil re-refineries are ISO 9001 certified. Systems Inc., headquartered in Piano, Texas, has announced the completion of a major refinancing Refinancing An extension and/or increase in amount of existing debt. that significantly improves its capital structure, lowers interest expense, increases liquidity and provides greater financial flexibility, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company. "This is another significant step forward as Safety-Kleen continues its turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. ," Frederick J. Florjancic Jr., Safety-Kleen president and chief executive officer, says. "Recapitalizing the company's debt structure will save us approximately $17 million in interest annually and helps provide the financial flexibility we need to continue to invest in the company and drive future growth." |
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