How Convertible Debt Deal Further Strengthened Safeguard’s Balance Sheet

Posted by | May 17, 2013

Safeguard’s convertible debt deal last November reduced Safeguard’s debt to less than a third of its debt level in 2005 and cut interest rate expenses nearly in half. During an interview earlier this week with Maxwell Murphy of the Wall Street Journal, Safeguard’s newly appointed CFO Jeff McGroarty explained  that “We looked at the market and saw we can do a bit better today.”

We announced last month, in conjunction with our quarterly call, that Jeff had been named CFO. On the call, Jeff noted that Safeguard’s financial strength, flexibility, and liquidity are evident. He tells the Wall Street Journal that one of his top priorities moving forward is the “safety and liquidity of Safeguard’s cash”.

Click through to the Wall Street Journal to read more and to also see a video featuring Jeff talking about how the convertible debt deal further solidifies Safeguard’s finances.

 

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