MINNEAPOLIS — G&K Services Inc. recently completed a $300 million, three-year revolving credit facility, scheduled to mature in July 2012, replacing the company’s previous credit facility that was scheduled to mature in August 2010.
At closing, G&K Services expects to draw down approximately 50% of this credit facility, which is similar to the borrowing level under the previous credit facility. This provides the company with more than $150 million of available liquidity.
