Hi-Rise Recycling Systems, Inc. entered into
an agreement with General Electric Capital's Commercial Equipment Financing
Unit and other lenders providing for a new $5.5 million loan under its existing
credit facility.
The new loan facility will be provided
through February 15, 2001. Pursuant to the agreement, the lenders agreed to
forbear with respect to the existing defaults under the credit facility until
that date. The $5.5 million loan and the forbearance agreement will provide High
Rise additional liquidity while the new senior management team implements new
operating policies.

Explore the December 2000 Issue
Check out more from this issue and find your next story to read.
Latest from Recycling Today
- Aduro joins PLASTICS, PSRA
- Rumpke awarded recycling contract in Bowling Green, Ohio
- VPPA and RISI to host pulp and paper summit in Vietnam
- Agilyx buys stake in Green Dot
- Meadow tabs aluminum as key to boosting beauty sector recycling
- Recycling industry stakeholders testify at Congressional hearing
- Missouri city expands recycling capabilities with funding from The Recycling Partnership
- Port of LA reports hectic June