G&K Services, Inc. (Nasdaq:GKSRA), a market leader in branded identity apparel programs and facility services, today announced it has raised gross proceeds of $75 million through the private placement of senior notes ("Notes") due June 30, 2015. "We continue to execute transactions to further enhance G&K's capital structure to support the company's strategic vision," said Jeffrey Wright, G&K's senior vice president and chief financial officer. "The placement of the senior notes provides additional capital resources to pursue organic revenue growth initiatives in addition to funding strategic acquisitions." The Notes are unsecured floating rate private placement notes that include financial covenants and other customary terms and conditions. There are no principal payments due on the Notes until maturity in 2015. The proceeds of the Notes will be used to repay outstanding debt under the company's revolving credit facility. The securities offered have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States, absent registration or an applicable exemption from registration requirements. "Our capital structure objectives center on capital availability, flexibility in terms and conditions, maintaining an appropriate debt maturity schedule and minimizing our cost of capital," said Glenn Stolt, G&K's vice president and treasurer. "The issuance of these notes supports each of our objectives. Further, this private placement of senior notes combined with the asset securitization program we completed last December and other outstanding debt arrangements diversifies our sources of capital at a lower effective cost of debt." Safe Harbor for Forward-Looking Statements The Private Securities Litigation Reform Act of 1995 (the "Act") provides companies with a "safe harbor" when making forward-looking statements as a way of encouraging them to furnish their shareholders with information regarding expected trends in their operating results, anticipated business developments and other prospective information. Statements made in this press release concerning our intentions, expectations or predictions about future results or events are "forward-looking statements" within the meaning of the Act. These statements reflect our current expectations or beliefs, and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which could be material and adverse. Given that circumstances may change, and new risks to the business may emerge from time to time, having the potential to negatively impact our business in ways we could not anticipate at the time of making a forward-looking statement, you are cautioned not to place undue reliance on these statements, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Some of the factors that could cause actual results or events to vary from stated expectations include, but are not limited to, the following: unforeseen operating risks; the effects of overall economic conditions and employment; fluctuations in costs of insurance and energy; acquisition integration costs; the performance of acquired businesses; preservation of positive labor relationships; competition, including pricing, within the corporate identity apparel and facility services industry; and the availability of capital to finance planned growth. Additional information concerning potential factors that could affect future financial results is included in our Annual Report on Form 10-K for the fiscal year ended July 3, 2004. About G&K Services, Inc. Headquartered in Minneapolis, Minnesota, G&K Services, Inc. is a market leader in branded identity apparel programs and facility services in the United States, and is the largest such provider in Canada. G&K operates over 140 processing facilities and branch offices, serving more than 160,000 customers.
G & K (NASDAQ:GKSRA)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024 G & K 차트를 더 보려면 여기를 클릭.
G & K (NASDAQ:GKSRA)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024 G & K 차트를 더 보려면 여기를 클릭.