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KINARK ANNOUNCES COMPLETION OF $9.25 MILLION FINANCING AGREEMENT

 KINARK ANNOUNCES COMPLETION OF $9.25 MILLION FINANCING AGREEMENT
 TULSA, Okla., March 26 /PRNewswire/ -- Kinark Corporation (AMEX: KIN) announced today the completion of a $9.25 million financing agreement with the Bank of Oklahoma. The new agreement, which replaces the company's current credit facility, consists of a $5 million term loan expiring in March 1995 and a $4.25 million revolving credit facility which expires in March 1993.
 "The new loan arrangement will have a very positive impact on the company," stated Bruce Lancaster, Kinark's treasurer. "Both the lower interest rate and the new amortization schedule will improve our cash flow," he indicated. Kinark accepted the Bank of Oklahoma proposal after considering offers from several other financial institutions. Lancaster added, "The relationship with Bank of Oklahoma gives us much greater flexibility than we have had in the past, including less restrictive covenants and extension of credit on a partially secured basis."
 Kinark Corporation, with corporate headquarters in Tulsa, operates chemical facilities in Chicago and Montgomery, Ala., and supports industrial/commercial construction and metals corrosion protection with galvanizing plants in Denver, Louisville, Ky., Nashville, Tenn., St. Louis, Houston and Hurst, Texas.
 -0- 3/26/92
 /CONTACT: Carolyn A. Fredrich of Kinark, 918-494-0964/
 (KIN) CO: Kinark Corporation ST: Oklahoma IN: CHM SU: FNC


AH-CK -- NY057 -- 2003 03/26/92 13:06 EST
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Publication:PR Newswire
Date:Mar 26, 1992
Words:220
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