Tervita Corporation announced steps to refinance its existing senior secured credit facilities due in 2014. Tervita is seeking to enter into a new U.S. dollar first-lien secured term loan and a new Canadian dollar first-lien secured revolving credit facility. Proceeds from the new credit facilities, together with proceeds from new senior secured notes that Tervita intends to offer, are expected to be used to repay all outstanding indebtedness under Tervita's existing senior secured credit facilities.

Tervita intends to enter into the new term loan and the new revolving credit facility and to issue new senior secured notes before the end of February, subject to market and other conditions. Tervita is also negotiating an extension of its existing senior subordinated notes in conjunction with this financing.