Safety-Kleen Gets Double-Financing To Climb Out of Debt

Danielle Jackson

Columbia, S.C. -- Safety-Kleen Corp. has received approval from the U.S. Bankruptcy Court to increase its debtor-in-possession financing amount from $100 million to $200 million to emerge from bankruptcy.

The company entered Chapter 11 bankruptcy protection with 73 of its U.S. subsidiaries in June 2000. Last month, Safety-Kleen also agreed to sell its chemical services division to Clean Harbors Inc., Braintree, Mass., for $46 million.