Comforce (CFS) completed its redemption of $21.4 million of principal amount of its 12% senior notes.
The Woodbury, N.Y., staffing management-services company said it extended the maturity of its remaining senior notes by three years to Dec. 1, 2010. Comforce's $110 million revolving credit facility was also extended by three years.
Comforce used loan proceeds under the credit facility to pay the redemption price of the senior notes.
"We are pleased to report the completion of these transactions, which will significantly reduce our annual interest expense," said CEO John Fanning. "As earlier reported, the three-year extension of our credit facility was conditioned upon our ability to extend our Senior Notes, which we have now accomplished."